Spend or HODL Bitcoin during COVID-19?

[DeathAngel]

It’s always best to HODL bitcoin under any circumstance, covid19 is no different. You’re far more likely to make large profits if you see bitcoin as a very long term investment.

HODL for at least another 12 months if your circumstances allow it.

[acdc]

I think the answer depends on each person's circumstances, if you need money to pay the bills then you should sell bitcoins, if you have plenty of money then keep for a while.
Personally, I think the future of bitcoin is going to grow even stronger so I'm currently trying to collect more bitcoins, so I'm not selling bitcoins at the moment.

[Ridwan Fauzi]

I use bitcoin for my daily trade, it works to me so far. Since my country still ban bitcoin for payment system I can't do anything expect for trading and investing.

But, I'm greatfull to have a knowledge about trading so I can make money per day and I can withdraw my profit per week, that is my source income for all my need now.

And seem like during this pandemic there will be many people who hold their bitcoin as a safe heaven place beside gold. They just store their money into bitcoin and sell them when the situation back to normal, like a few weeks ago before the second wave coronavirus came many people there who sold their bitcoin and make bitcoin price drop but now they came back again.

[coolcoinz]

I don't understand such threads where people ask random strangers if they should buy/sell (in this case sell) or wait. Nobody is going to make the decision for you, it's like asking if you should change the car or keep driving the old one. It comes down to whether you need something or  not, whether it's something you can afford or not. For instance, if you're living with your parents and could move out and start living on your own it's definitely a good idea to spend some money or withdraw some investments. Being a burden to someone else is not something you should be doing and it's going to weigh on your mental health, sex life and self esteem. I have my own house, a car, some cash, so I don't need to sell my bitcoins.

[Raflesia]

It’s always best to HODL bitcoin under any circumstance, covid19 is no different. You’re far more likely to make large profits if you see bitcoin as a very long term investment.

HODL for at least another 12 months if your circumstances allow it.

Best and precise way of holding longer.

Switching from other investments because of the downturn in the first wave but until now there has been no stability in the economy means that I am still a little worried about other investments.
I ventured into holding Bitcoin for a long period of at least 1 year and have never been tempted or panicked when the drop is normal and must be able to be overcome.

Bitcoin has started to rise during the pandemic so I think a lot of people are choosing this option as another investment.

[btctaipei]

receive, spent and HODL
I doubt any one of you got to the chance to buy the dip at $4000 in excess of 50BTC thru exchange.
but in person trade that was definitely possible (and it did)

[Twentyonepaylots]

Better hold and learn from past history, this is 2016, prior to the bull run of 2017, so the history might repeat itself again, although it might take long. What I'm trying to say is that we should HODL as long and as much as we can.

Indeed it is better if we hold, to get the maximum benefit but the pressure from the outside is real though, I mean we can't just tell someone who has bitcoin to just hold til it gets back to $20000 and is suffering from hunger or shortage of allowance in light of covid since we know the rise of unemployment rate from most countries. I'd say we are independent from doing our stuff, do what's convenient with your assets.

So I would rather stack even more on the contrary, instead of spending it.

If you still got more money, or spare money it's best to take advantage of the moving price now as it is speculated to have an another ATH this year or early next year.

[AjithBtc]

It’s always best to HODL bitcoin under any circumstance, covid19 is no different. You’re far more likely to make large profits if you see bitcoin as a very long term investment.

HODL for at least another 12 months if your circumstances allow it.

Hodling of cryptocurrencies were always profiting, and once you've made a decision to hodl you need to stick to it unlike the situation. Common people can't stick to hodling for a longer time period. Even here the rich ones benefit out of hodling. Considering the present market situation atleast a twelve months hold is suggested. Another thing we can't have a calculation and hodl, because when we reach the time target the market might be under crash.

[Oceat]

I already spent some of my crypto holding because of the lock down.
I didn't have enough cash so I rely on crypto and started to make a small business in my neighborhood,
So far I could say that it is fine I manage to gain my capital and now I am making some profit.

Good for you though you did what you could to gain your capital back and now Bitcoin is in a bullish trend you could have gain more if you HODL those BTC you have before. But, since you lack some cash in yourself I can't blame you for using it to gain fiat although you did manage to get back your capital.

I think it's time to reconsider buying Bitcoin if it's going to dump although it still hold the $13k right now but I have a feeling that it's going to drop back again since the hype of PayPal users trading crypto since PayPal accepted crypto payment already.

[btctaipei]

We need to spent and HODL, as well as receive (thru earning and helping those who need to cash out BTC)
 
I doubt any one of you got to the chance to buy the dip at $4000 in excess of 50 BTCthru centralized exchange.
BiSQ is another matter.

Though, I'd admit in person trade 50 BTC was well within reason (and that it did)

[kentrolla]

Well that's depends on the situation of the person like if he/she desperately need something for daily living then you can sell and fulfil your needs because many of them lost their jobs in this pandemic, If you want to hold it then BTC is certainly a more predictable and Safer investment. Just wait for your turn to see big returns

[btctaipei]

Well that's depends on the situation of the person like if he/she desperately need something for daily living then you can sell and fulfil your needs because many of them lost their jobs in this pandemic, If you want to hold it then BTC is certainly a more predictable and Safer investment. Just wait for your turn to see big returns

Don't you just love "panic selling"?  I can't convince them *NOT* to sell to me when it went below$5000 / BTC. They told me I should sell it soon because it is going to $0. 

Thus an conundrum had occurred: What would you do in such situation?

Tips: Holding bitcoin private key (dumpprivkey bc1******) rules. It is cheap, convenient, and safe.  Coinjoin are awesome, but graftroot and taproot are the future.

[ChrisPop]

I already spent some of my crypto holding because of the lock down.
I didn't have enough cash so I rely on crypto and started to make a small business in my neighborhood,
So far I could say that it is fine I manage to gain my capital and now I am making some profit.

It's great to see entrepreneurs around here. Maybe you can gain back the crypto you HAD to sold from the business cash flow. What business is it if I may ask? I'm curious to see what works in the current environment. :d

[lienfaye]

Holding is an effective way to gain profit but not everyone can manage to just hold specially in times we need money to spend and you dont have anyone to count on.

So it depends on your financial status, if you can hold and not having problem about money issues then that would be better because its a good option. Taking profit at times are fine im also doing this if im need, what important is you know how to manage your investment.

[Silberman]

It seems that during these times of turmoil, Bitcoin's prices are increasing at a slow and steady rate. Since the mainstream economy has been on a downfall, people have been resorting to Bitcoin as a store of value. This gives Bitcoin "hodlers" greater spending power than before in terms of Fiat. You can now buy more things with Bitcoin than you did before COVID-19.

What would be the right thing to do during COVID-19? Should I spend Bitcoin or should I just "HODL" it? The more Bitcoin's prices increase on the market, the more tempting it is to spend one's Bitcoin holdings. But at the same time, you want to "HODL" your Bitcoin for the next ATH in price. What would you do?

Any advice, recommendations, or suggestions will be greatly appreciated. Thanks in advance.

In my opinion a healthy combination of both should be what is best, obviously holding your coins is the best option for the long term since the price of bitcoin will keep going up but the longer you hold without spending any the more temptation you will get to do so, however spending it all is also a mistake, as such it could be a good idea to spend some of the bitcoin you are holding, but only do so in stuff that you actually need or that you know you are not going to regret having bought in the case the price skyrockets and then you realize that if you had waited you could have bought that item several times if you just waited.

[Smartprofit]

Covid-19 does not prevent bitcoin prices from rising.  Why is this happening?  

There are several reasons.  

1) Quarantine.  People are forced to stay at home.  

Walking, dining and public events are limited.  Work, education, entertainment all this happens online (in the virtual space).  Bitcoin was created to work in the virtual space. People are starting to get interested in Bitcoin.

 2) Covid-19 negatively affects the economies of all countries.  

Governments carry out additional emission of funds (for example, USA - 22%).  Some of this money goes to the stock and bond market.  However, another part of this money ends up in the cryptocurrency market (in particular, in Bitcoin).  

Therefore, based on this, the optimal strategy now is HODL.

[tanef478]

The coronavirus pandemic is the first real test since the creation of bitcoin.
As a rule, when it comes to the barter system and the crisis, gold looks more valuable and familiar to people. Since people have always used gold in the past to exchange it for cash to buy necessary things. Perhaps in our time, bitcoin has become the new digital gold.
If you look at the beginning of the pandemic, you can remember that in March, bitcoin fell in price by almost half. Of course, the fall was caused by the coronavirus panic, at that moment there was a collapse of everything that could be sold.
Of course, gradually bitcoin began to level out and grow a little. Slowly, but steadily. For this reason, it seems to me that it is worth saving bitcoin until the situation stabilizes. In this situation, it will be possible not to lose what was purchased before the start of the pandemic.

[btctaipei]

BTC is functioning as an real currency. It is getting harder to remain ignorant with passage of time.

Perhaps Aristotle says best - "fungibility, durability, portability, divisibility and intrinsic value"

[Fatunad]

It seems that during these times of turmoil, Bitcoin's prices are increasing at a slow and steady rate. Since the mainstream economy has been on a downfall, people have been resorting to Bitcoin as a store of value. This gives Bitcoin "hodlers" greater spending power than before in terms of Fiat. You can now buy more things with Bitcoin than you did before COVID-19.

What would be the right thing to do during COVID-19? Should I spend Bitcoin or should I just "HODL" it? The more Bitcoin's prices increase on the market, the more tempting it is to spend one's Bitcoin holdings. But at the same time, you want to "HODL" your Bitcoin for the next ATH in price. What would you do?

Any advice, recommendations, or suggestions will be greatly appreciated. Thanks in advance.

Why would choose if you can do both things? You can sell out and at the same time you can hold for it for future.The important thing
here is that we do held up bitcoin for future profit purposes and we do spend it since its a digital currency or making out conversions
to fiat for you to spend of neither for personal or other use.So its up to someone on how he gonna make such step because we do
have different interest in life and making out decisions will really vary.

[pixie85]

Seeing the uptrend I'd continue to hold if I were you but I don't know your situation so I can't decide for you OP.

You're mentioning covid, so if you or someone from your family is seek and in need of help you should help them even if it means selling some of your investments. If all is good and you have enough money to go through this difficult time hold your coins.

It's only a matter of time before we see 20000 USD again.