Spend or HODL Bitcoin during COVID-19?

[manfredmann]

I'm hodling. And do not trade at all, except when giveaways are announced. Because I'm lucky then. Now taking part in a Freewallet's one. Who wants to join? 

Lol, yeah I had seen one of the post of Satoshi Nakamoto about sending 1 BTC and then he will going to double it. It was really one of the best thing that had happen in the forum and that scammers are also trying to imitate Satoshi Nakamoto and then others get scam by them. How I wish Satoshi nakamoto will go out again and do the same thing he had done before. It was a nice giveawat BTW from the founder of bitcoin.

[fauzan123]

This post was made on 31 of October and everything in your post are true. Bitcoin has been going up steadily and it's even crossed it's ATH. I'd rather keep holding because it's my decision. Those who bought and didn't sell of during the 2020 bull run are in profit right now, and so are the day traders.

It is interesting to discuss HODL in 2020, why is that? because the covid-19 pandemic provides opportunities for new investors to know how bitcoin works and is useful, of course this is a positive side to see at the end of 2020 bitcoin gets a new ATH.

I think it would be better if you buy at a year-end to early-year discount for bitcoin, given that there was a little polemic that happened to the SEC yesterday I think it will also have an impact on bitcoin.

[Nikole Fischer]

Hold it. It would be better if you hold it. Bitcoin's price is growing and it's time to buy it. Don't worry, you'll always have time to sell it.

[batang_bitcoin]

Hold it. It would be better if you hold it. Bitcoin's price is growing and it's time to buy it. Don't worry, you'll always have time to sell it.

Holding is always the recommended thing to do if you don't face any serious problem that requires you to sell your bitcoins. As for my situation during this year, I had to let go some of my bitcoins and sell it half of its price today. I don't regret it although sometimes my emotional thinking makes me regret it. But that's it, I'm in profit when I've sold but it would be greater if I've got to sell it during this $20kish times. But that's it, it's too late for me to think of it already and I've spent the profit correctly that I took which helped me to avoid further bad circumstances and financial problem and matters.

[samputin]

This post was made on 31 of October and everything in your post are true. Bitcoin has been going up steadily and it's even crossed it's ATH. I'd rather keep holding because it's my decision. Those who bought and didn't sell of during the 2020 bull run are in profit right now, and so are the day traders.

Well, you've said it. "Decision". It's up to us if we want to sell or hodl amidst this crisis we're facing. Some of us might be in urgent need of money so some might sell but for those who's just steady financial even during this time, then maybe it's a good idea to continue hodling. As for me, I'm more on the latter but still doing the former from time to time. I had to sell a bit because it's Christmas season. But otherwise, all my other BTCs earned is up for hodling.

[bakasabo]

I just caught myself with a thought, that I still havent decided what must be Bitcoins price that will made me sell it. In spring I thought that $10,000 is enough, but now I see its potential to growth and consider keeping it. The only reason I would sell Bitcoin (perhaps at any price) is an urgent need in fiat. Like situation that you need money right here, right now. Situation that money can really impact on my future life, and a situation when I'm in a need of a new car, house, mobile or pc.

[milewilda]

Spend if needed and hold if you do go for long term.It doesnt need to be held up when you are in need.
You do need to make such decision for yourself and find out if it is necessary to take action then dont hesitate.

[Rengga Jati]

Spend if needed and hold if you do go for long term.It doesnt need to be held up when you are in need.

Yes, sometimes we need to spend Bitcoin for urgent things. In this situation, we don't need to hold all our Bitcoin, there should be some for selling. No need to keep holding if it is for urgent things. I also did the same thing as you, buddy. For me, Bitcoin is my asset that should help me in any situation. What for the assets if it cannot help once we need it.

[verita1]

I spent bitcoin at the beginning of the pandemic and I did it because I had no other option. Now that its price is on the rise, I only think that Bitcoin supported me in the most difficult moments that I spend with my family. In other circumstances, having another crypto I would hold Bitcoin and spend the one that still needs development.
Bitcoin should hodl in any portfolio is what I think because important events will happen next year.

[Abiky]

Yes, sometimes we need to spend Bitcoin for urgent things. In this situation, we don't need to hold all our Bitcoin, there should be some for selling. No need to keep holding if it is for urgent things. I also did the same thing as you, buddy. For me, Bitcoin is my asset that should help me in any situation. What for the assets if it cannot help once we need it.

Well, it all depends on what you want to do with your Bitcoin holdings. I'd advise anyone to "hodl" Bitcoin during a bull market as it experiences new All-time-highs in price. But not everyone is capable of doing this. If you need the money to survive, then you're better off selling than "hodling" for the long term. Bitcoin's price volatility could make you lose an opportunity of a lifetime for profit if you don't act quickly. You could sell a portion of your Bitcoin for cash, while keeping the rest as a long-term investment.

Whatever you do with your Bitcoin, it's entirely up to you. These pandemic times have brought the mainstream economy to its knees like never before. It's benefiting the decentralized economy, as people are realizing the true benefits of crypto/Blockchain tech. With Bitcoin being considered by many as "digital Gold", it may only go up in price with every halving event. I'm still "hodling" Bitcoin and will not sell until it gets past $50k.

[isaac_clarke22]

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Many were eyeing on 20k back in 2017, and I am pretty sure that those who still managed to hold within those years could've decided to sell right now. It is still up to some people. I sell a bit of what I currently hold, because I don't really want to zero out my balance in Bitcoin even though I didn't commit any assets to it. Still good to see that you have something in store yet in your wallet.
Eyeing for 50k, huh? 50k isn't impossible from how Bitcoin seemingly bounces inside 30k right now.

[Altryist]

Actually, I would proceed to hodl most of my Bitcoin. In the event that the show increment in Bitcoin's cost is as of now sweet, what happens for the another months and a long time must be way sweeter. I  looking forward at long term with much more fervor presently.

In the future, the price of bitcoin will only grow, so if there is no need to spend bitcoins for life now, then just hold them and wait a few more years. They can turn into a whole fortune, and what today does not seem like a big money in the future will be able to provide you and your family for many years.

[carlfebz2]

Actually, I would proceed to hodl most of my Bitcoin. In the event that the show increment in Bitcoin's cost is as of now sweet, what happens for the another months and a long time must be way sweeter. I  looking forward at long term with much more fervor presently.

In the future, the price of bitcoin will only grow, so if there is no need to spend bitcoins for life now, then just hold them and wait a few more years. They can turn into a whole fortune, and what today does not seem like a big money in the future will be able to provide you and your family for many years.

For people who do have extra income to support up their needs then its really worth to hold up your bitcoin rather than on spending it but if you are really in need and without any viable source of income
then spending it would really be not bad.

Prioritize your health first and dont try to hold into something which you know that you would really be badly needed.Why would hold if you do risk out your living?

Why would hold out when you dont have something to eat?

[Abiky]

Many were eyeing on 20k back in 2017, and I am pretty sure that those who still managed to hold within those years could've decided to sell right now. It is still up to some people. I sell a bit of what I currently hold, because I don't really want to zero out my balance in Bitcoin even though I didn't commit any assets to it. Still good to see that you have something in store yet in your wallet.
Eyeing for 50k, huh? 50k isn't impossible from how Bitcoin seemingly bounces inside 30k right now.

Yes. It's best to "hodl" some Bitcoin for the long term, instead of selling everything for cash. Otherwise, you'll lose an opportunity of a lifetime to gain more profit. As long as you make more money than what was initially invested, you'll have nothing to worry about. It's all a matter of having self-control over your finances in order to stay ahead of the game. Bitcoin is one of the most volatile assets in the world, making you either poor or rich in an instant. That's why it's always important to buy when prices are going low, and sell when they're high to help secure your investment.

Nonetheless, it seems to me that pandemic times are much more beneficial to the decentralized economy than anything else. People resort to Bitcoin as a sort of safe-haven asset just like Gold. If demand continues to soar, prices could go all the way to the moon in the future. We're already experiencing the effects of a bull market run because of the pandemic. $50K per Bitcoin could become a reality soon as governments print more money to try to save the mainstream economy. Inflation of national currencies (Fiat) will make Bitcoin stronger than ever as its "hodlers" gain higher purchasing power. Spending or "hodling" your Bitcoin now will be a decision that will lie in yourself. No one can force you to do anything thanks to the decentralized nature of crypto/Blockchain tech. Just my opinion

[Issa56]

I think the best thing to do is to hold your bitcoin but if what you really want to use the money for is very important and you don't have another alternative you can sell your bitcoin and you can buy back later when you are financially stable again, I also sold some of my bitcoin during the first wave of Covid19 and  later I bought back again. Because I believe by now if you don't have bitcoin in your wallet currently or if you think the price is too high and you don't want to buy now. I think Bitcoin price is still very low since must people missed the first bullrun I think the second bull run is about to happen which if you are not holding bitcoin now you will definitely regret in the next few weeks. I don't think in the next few weeks or months you will see bitcoin is this price range again which will be super bullish.

[Nunoluck]

Maybe each person will have different strategy, it's depend on the each capabilities and necessities. For me when the price still rising while it reach highest record then this is the time to becarefull and keep an eye on news that related to cryptocurrency if there are still many good news then hold. Actually I only buy bitcoin when it  price fall so I always in good position. Many people sold their bitcoin when the price fall but I think it is not a good decision except they make sure that they still get profit. my decision regardless Covid19 condition.

[Amejoaquim]

No wonder if many of us convert our assets into bitcoin or any others crypto assets.

In my opinion, the reason is because currently bitcoin is really trending, very hype and also the most stable investment in digital currency.

[elisabetheva]

No wonder if many of us convert our assets into bitcoin or any others crypto assets.

In my opinion, the reason is because currently bitcoin is really trending, very hype and also the most stable investment in digital currency.

if he believes it will certainly be done wholeheartedly, but it is not easy to give up assets for something in the form of crypto, which is quite unstable. even though currently prices are high and there is a tendency to increase again.
but if you do not have high self-confidence about crypto then it is too risky, what is good is to exchange you altcoins and change to potential bitcoins or altcoins. because the risk that will occur will not make us lose big because the assets have been lost.

[Vishnu.Reang]

During the last 12 months, I sold around 20% of all my coins. And most of them were sold when the exchange rates were below $10,000 per coin. Anyway, I don't regret about my decision now. I purchased most of them in 2017 January, at $900 per coin. So even at 10K, I ended up in good profit. But if I had held on to them for some more time, then I could have got 5x more profit. I guess I should not sell anymore in 2021. Maybe it will be better to wait for 2-3 years, so that the prices reach six digits.

[Abiky]

Cashless mediums such as Gold and Bitcoin will have a positive effect looking at the US economy atm.
Bitcoin is rising at a steady pace now and I personally think it'll be around 100k USD/BTC in next January.

I'm sticking with Bitcoin and you should do the same 

The ever-rising prices of Bitcoin, encourages me to buy and "hodl" more coins for the long term. It would be unwise to sell Bitcoin now, as you could miss an opportunity of making bigger profits in the short term. With Bitcoin hitting $50k for the first time, there's a strong reason to "hodl" it for the next surge in price. Who knows if the year ends with Bitcoin being worth $100k per coin? It seems to me that the COVID-19 pandemic is benefitting the decentralized economy, while the mainstream economy continues to sink deeper. The longer it takes for the COVID-19 outbreak to disappear, the better it'll be for Bitcoin and other cryptocurrencies on the market.

Nonetheless, spending or "hodling" Bitcoin depends entirely on your current financial situation. If you desperately need the money, then it's advised that you sell your Bitcoin before it's too late. The volatile nature of Bitcoin could leave you either poor or rich in an instant. It's always important to secure profits whenever possible by buying low and selling high. As long as you do that, you'll remain financially stable for years on end. Just my thoughts