Spend or HODL Bitcoin during COVID-19?

[XCANA]

Those that hold their bitcoin during covid-19, are those people who really believe in their personal research concerning bitcoin price that what happened in 2017 is about to happen again in bitcoin price. I was part of those who hold bitcoin during covid-19 based on the information I got from my research that 2021 BTC price will hit $50k, which truly came to pass some few months ago that really help me to achieve double profit from my investment.
Those that spend their bitcoin during covid-19 never believe that bitcoin price will hit $40k after lockdown. It was a regret to those who sold their bitcoin during pandemic, hoping that the price of bitcoin is about to dump without Carry out personal research to know the reason why some people are still holding their bitcoin till last month when the price of bitcoin hit $50k.

[Question123]

During covid-19 in the month many people lost their jobs and I guess some of them are bitcoin user maybe the others sold their coins because during that day they need money to buy their daily needs. But the others continue holding their bitcoin because for sure those people who already in the crypto continue  investing to the bitcoin and they have a lot of new user in the bitcoin during the covid-19 and those user who are trust and hold bitcoin now are gaining more money.

[mbe48]

In my opinion, the right thing to do during COVID-19 is to save most of the assets we have, not to buy / spend so that we feel satisfied but to use our assets only to meet needs, not wants. We will not know how much the price will be, the market can only be seen in terms of enthusiasts. In economics, price increases and scarcity are caused by unbalanced supply and demand. So we can conclude, if we continue to sell assets (Crypto) there will be a decline in prices because the total supply decreases. Therefore, be wise in transactions so that prices can be even higher.

[panganib999]

In my opinion, the right thing to do during COVID-19 is to save most of the assets we have, not to buy / spend so that we feel satisfied but to use our assets only to meet needs, not wants. We will not know how much the price will be, the market can only be seen in terms of enthusiasts. In economics, price increases and scarcity are caused by unbalanced supply and demand. So we can conclude, if we continue to sell assets (Crypto) there will be a decline in prices because the total supply decreases. Therefore, be wise in transactions so that prices can be even higher.

Actually, this is true. We must know when and where to spend our money so that we may able to have some when in case of emergency situations. Holding bitcoin is a very helpful scenario because ee all saw how bitcoin become progressive this past years. From the beginning of the pandemic it cause us to have a total lockdown in different countries. Many people lost their jobs, children stops from going to school and earning or jobs are disabled. Many people have lack of resources in their house because they didn't able to make profits. I guess holding is a great idea but you need also to think of a way to earn that fits the current situation which is the pandemic.

[uelque]

In my opinion, the right thing to do during COVID-19 is to save most of the assets we have, not to buy / spend so that we feel satisfied but to use our assets only to meet needs, not wants. We will not know how much the price will be, the market can only be seen in terms of enthusiasts. In economics, price increases and scarcity are caused by unbalanced supply and demand. So we can conclude, if we continue to sell assets (Crypto) there will be a decline in prices because the total supply decreases. Therefore, be wise in transactions so that prices can be even higher.

Actually, this is true. We must know when and where to spend our money so that we may able to have some when in case of emergency situations. Holding bitcoin is a very helpful scenario because ee all saw how bitcoin become progressive this past years. From the beginning of the pandemic it cause us to have a total lockdown in different countries. Many people lost their jobs, children stops from going to school and earning or jobs are disabled. Many people have lack of resources in their house because they didn't able to make profits. I guess holding is a great idea but you need also to think of a way to earn that fits the current situation which is the pandemic.

You two actually have a point. But playing safely won't actually bring you anything. You will just end up losing in the real game. It's much better to risk some of your asset on something that can give you a profit and much better if it is passive. Rather than just simply saving it for future purposes. Money moves so fast nowadays that it can vanish at a glance, so profitably think wise and not save or hold wise.

[Sithara007]

You two actually have a point. But playing safely won't actually bring you anything. You will just end up losing in the real game. It's much better to risk some of your asset on something that can give you a profit and much better if it is passive. Rather than just simply saving it for future purposes. Money moves so fast nowadays that it can vanish at a glance, so profitably think wise and not save or hold wise.

If you own fiat cash, then there is a need to invest that amount somewhere. Because fiat cash is not protected against inflation and it's purchasing power goes down with every passing year. On the other hand, if you are owning Bitcoin then there is no need to make further investment using it. Because Bitcoin itself is a form of investment. It is protected against inflation, and the rising user base guarantees that the prices will increase in the near future.

[Abiky]

I think the best option when it comes to Bitcoin is HODL. Because we have seen so many examples of it. Young millionaries got rich thanks to being patient and not panic selling etc. , for example. I don't see Bitcoin as a short-term investment tool. If you want to make good money in a short period, I'd suggest the altcoins but it is really hard to keep up with them. 

If you keep "hodling", you might become a millionaire someday. But some people can't do this, as they need the money right away to survive. As long as you're able to make a return on your investment, nothing else matters. You should focus on buying low and selling high in order to secure your financial future. No one knows how much Bitcoin will be worth in the future. It could either go up, or go all the way down the drain.

So far, Bitcoin has shown an upward movement in price due to increased demand on the market because of the COVID-19 pandemic. The mainstream economy is about to collapse, leading people to invest in alternatives which serve as a safe-haven against traditional Fiat. It's no wonder why Bitcoin is growing in popularity at a fast pace. You get to decide whenever you want to spend your Bitcoin or "hodl" it for a long time. At least, Bitcoin will be here to stay for a long time thanks to its decentralized nature. And that's what truly matters. Just my opinion

[Golftech]

In my opinion, the right thing to do during COVID-19 is to save most of the assets we have, not to buy / spend so that we feel satisfied but to use our assets only to meet needs, not wants.

Good thing to save as long as we are capable to spend only to those what we need and not what we want,

in that kind of situations, you'll be able to save huge amount from your crypto assets

We will not know how much the price will be, the market can only be seen in terms of enthusiasts.

No one really knows what will happened after, all in terms of demands and how people follow

what moves Bitcoin / crypto will proceed.

In economics, price increases and scarcity are caused by unbalanced supply and demand. So we can conclude, if we continue to sell assets (Crypto) there will be a decline in prices because the total supply decreases. Therefore, be wise in transactions so that prices can be even higher.

There are always factors that affects the market, as even there are sell pressures investors

just buy it out and hold, resulting to bounce and recover.