Spend or HODL Bitcoin during COVID-19?

[Smartprofit]

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.

Yes that's right.

Only extraordinary circumstances can force me to sell bitcoin now. 

2018-2019 was a bear market period.

 2020 is the beginning of the bull run.  2021 - 2029 is the time of reformatting the global financial system.

IT corporations issue their own money (LIBRA, Facebook Coin).  Central banks of all countries are planning to issue their digital currency.  Banks in the 21st century are becoming an anachronism. 

Bitcoin will help to survive these financial cataclysms.  I really don't want to sell it now.

[DarkDays]

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. Well you can spend me, but at least be reminded that we are still a long way to go to see the price going into another all time high, this is just a tip of what's going to happen next year. So I would rather stack even more on the contrary, instead of spending it.

But what if something is urgent? That an investor really need to buy something for himself? This I think is one exception if you would be in difficult times. But if it is not necessary, of course it would be better to leave your investments alone in the possibility of earning more profit in the future.

I think as an investor specially looking at the long-term you should try to avoid having to dip into your investments when things get tough. As such it as you point out instead it is recommended to have an emergency stock for these exact situations and leave your investment accrue the profit for you.

But bottomline is possibility which means chances or things are not certain. What we are seeing is forming conclusions of how high will the market price become if this would be continuous. "If" the market price will be continuously increasing then that would be ofcourse a good thing. But what "if" it again suddenly fall? Just don't rush things and make an action you think will not be regretful. We are on different circumstances.

In investment there is always the 'if' alternative and you can take some precautionary steps to prevent you from losing more than you can afford at times of market crush or correction. But the message here is that you must be prepared to take that risk if you're going in for an investment hoping to gain a healthy profit over a long period of time.

I find that sometimes it helps putting things into perspective every now and again.

[Viscore]

If I have nothing to do with my Bitcoin, I certainly have to hold it until it hit its peak. We all have choices and probably there is a reason for every decision we commit. Some were selling but the others were also buying, this is actually the real thing in crypto space, and so we can't say that everyone will do the same.

The price of Bitcoin still good despite the turmoil that we have now. People aren't hopeless anyway to think that we can surpass this crisis sooner. In fact, as the pandemic hits us more people had realized how important is Bitcoin. And that to expect that, many crypto investors will hold their holding rather than selling.

[imstillthebest]

Mainstream economy are lagging behind while Bitcoins economy are now getting mainstream . We that are here in btc don't want to be selfish but  what happend are better than no positive outcome at all .  It will look bad if all are damage by the covid and no gains even on the other world . Btc were now optimised for spending and people should spend more than hodl  . they don't need to mind the price because the price were just up and down . If they missed something , they can still experienced it later on but missing a big sale online can be disappointing and that can't happen again sooner .

[mezzaluna]

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.

That actually still depends on the people HODLing their Bitcoins since some users are victim of job loss and they are in need of fiat. Although this pandemic is a good time to invest on Bitcoin since more people have the opportunity to learn about it and they would also invest resulting in more buyers of Bitcoin. HODLing is for people who can live those easy lives and cashing out your Bitcoins is also a good idea if you really need that cash.

[finaleshot2016]

Hold bitcoin, of course, the current price is still increasing. It started at 5k USD and now look at the equivalent price, it's 13k USD.

For some investors, they already withdraw it thinking that this might be the peak for 2020 but I'm hoping for a bull run so hodl.

[Asuspawer09]

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.

That actually still depends on the people HODLing their Bitcoins since some users are victim of job loss and they are in need of fiat. Although this pandemic is a good time to invest on Bitcoin since more people have the opportunity to learn about it and they would also invest resulting in more buyers of Bitcoin. HODLing is for people who can live those easy lives and cashing out your Bitcoins is also a good idea if you really need that cash.

Preferably I would totally hold especially in the times of pandemic since it's hard to earn money at this time and most of the people lost their jobs because businesses are close.

I mean holding is always recommended at all times, but still, the decision is up to the one who holds the bitcoin at definitely depends on your own situation.

For some investors, this pandemic could be an emergency so we could really blame them if they need to sell their holdings at times like this. Still, just make sure that you are making a small or big profit whenever you are going to sell your investments.

[batang_bitcoin]

Spend it if you had to. That's what I do and I don't regret it. I'm happy to see that the things that I buy came from my profit in bitcoin holding. It is the reason why we are holding, to use it in times that we need it. Spending some won't hurt that much if you really need it.
You can always be a holder and spend bit from that holdings.

[BuNga_cute]

This is a very interesting question, considering that the COVID-19 situation presents different problems for everyone.
For me COVID-19 has made me lose my job and this certainly has an impact on my finances. So I chose to spend my
Bitcoin to buy daily necessities, moreover I bought Bitcoin when the price was $ 6000 around the end of March 2020.
So at the current price, which is already at the price of $ 13,400, it will give a big profit if I sell the Bitcoin that I have now.

[fullhdpixel]

But you said you’re aware that the price of bitcoin is going up, so why would selling the coins be an option?
And swapping for an altcoin? Nah, that wouldn’t be a good idea when I already know that Bitcoin is a better option to hold at this time. Altcoins are not as good as Bitcoin. With the way the market is going now the price of BTC will get to a high price, it keeps moving from one price level to another and it might to a high price soon.

We don’t how December is going to be, whether there is going to be another bull run or not, but if not, I know for sure the market will maintain the stable level.

[CODE200]

Spend it if you had to. That's what I do and I don't regret it. I'm happy to see that the things that I buy came from my profit in bitcoin holding. It is the reason why we are holding, to use it in times that we need it. Spending some won't hurt that much if you really need it.
You can always be a holder and spend bit from that holdings.

Indeed. Many investors will always say hold no matter what but the reality is that, if you need something, and you have no ither resources to aid the need other than investments, your investments will be more likely the solution. Doing so might remove the opportunity of earning bigger profit but it would be efficient to your present problem so there's really nothing to regret for. If it will need you to sell every investment, then do it, and once you're back with the usual, you  are free to start again.

[mangsitin]

In today's pandemic, many people are losing money with their businesses.  even the pizza hut market in my country has to take to the streets to promote it at a low price.  Middle and low-income businesses have to manage their finances due to lockdowns, and many large companies have expelled their employees.  because of all this.  many people are moving into bitcoin assets.  and that will have a good effect.  so my choice is to always hold our bitcoin.

[Abiky]

I'll go with Hodling all the way. I mean, the price chart is doing good and it was unusual to happen nowadays. So all of us should make the most of it as much as possible. Resist to convert because there would be a higher price waiting for you ahead, who knows?

However, there is some point that something eagerly forcing us to spend our crypto savings. Like in my case right now, I really want to continue hodling until december but my empty purse already telling me "Feed me please" lol. That's why I decided to convert my remaining btc savings (while the price still soaring tsk). In the battle between greed and needs, the latter one wins .

I think "hodling" is the best decision you'll make during this period of crisis. I mean, Bitcoin has been rising at a slow and steady rate ever since COVID-19 took the world by storm. It's getting near the All-time-high of $20k per coin. The year might end with Bitcoin being worth at least $15k to $18k on the market. Spending Bitcoin now will leave you with less profit in the long term. As the price of Bitcoin increases in terms of Fiat (USD), we get more spending power to buy things we love. There's the temptation of spending Bitcoin when prices are going all the way to the moon. It's best to "wait it out" as the best is yet to come.

Nonetheless, the decision of spending or "hodling" Bitcoin will lie on the person himself. We cannot prevent people to spend Bitcoin when prices are skyrocketing on the market. Both spenders and "hodlers" will co-exist in the crypto/Blockchain space. As long as you don't spend all of your Bitcoins, you'll be able to enjoy profits made possible by Bitcoin's uptrend in price. It's up to this point where I've never owned 1 full Bitcoin because I've been spending it most of the time. But if I keep "hodling", I might be able to achieve that goal. COVID-19 or not, Bitcoin will be here to stay. Just my thoughts

[Yatsan]

The decision of whether you will spend or HODL your Bitcoin at this time of covid-19 pandemic will be dependent upon your own situation. Many would suggest that you must keep on hodling for you will be benefited once this pandemic comes to an end. Many will also say that you must spend your Bitcoin or you will die starving for keeping on holding and it will be nonsense once you die for battling on holding rather than spending to fulfill your needs to survive within this pandemic. Now the decision of spending or holding lies on your hands. No one should dictate you but just your own self for we have different situation so we must have different approaches depending upon the call of the situation. If it is not badly needed, then hold. But if it really necessary, better spend it for you can still earn it after all. Be wise on doing decision and do not get affected what people say for you will be the one to prosper or suffer.

[Cryptopher]

For me there is no "spend". It is only trade or hodl and I choose trade, though admittedly hodling usually wins.

[tanjiran]

Actually, if there really is a good opportunity from the altcoin then no problem, try the opportunity. the important thing is to understand and calculate our ability to overcome the risks. It is better to divide investment, bitcoin, and altcoin so that you can both take advantage of the profits if there is a good moment, even if you lose at least there are still other supporters.
The winner is knowing the right time to get in and out, then be grateful for what you've got, not greedy. These are difficult times, everyone is experiencing difficulties in the midst of a pandemic, as much as possible choose investments with less risk.
Well, when it comes to holding or selling, we can't force it, after all, everyone enters at a different level, right? what is certain is not to miss the moment and must be fully aware that whatever the risks must be prepared to face.

[ShowOff]

If I have a lot of bitcoin balance that I have deposited since last January, then today I have made a lot of money due to price increases. But who knows the future of crypto that continues to be decorated with speculation and its fluctuating price. Bitcoin has proven its resilience to pandemic simply because of its price, and it has been proven because of its ever-increasing price. Investor confidence in bitcoin continues to grow and that's a plus in my opinion. If I were you, maybe I would keep bitcoin and hold them without being sold if there wasn't an urgent need.

[kawetsriyanto]

Should I spend Bitcoin or should I just "HODL" it?

It depends on the situation. If it seems a good time to sell the Bitcoin, why not selling our Bitcoin? If we still have a plan to hold or invest again, just wait for the correction time and buy again some Bitcoin. In my opinion, we must have a flexible strategy. Means not only think to hold, but take advantage by selling it if you see a good time for selling.

[fishbonez11]

When the price is increasing steadily, i think it would be wise not to spend Bitcoin which would cost much higher in the near future especially when everyone is moving in to Bitcoin because the fear of stocks might fall due to aggressive quantitative easing. Buying the dips, whenever Bitcoin price is pulling back is what im doing to accumulate even more BTC, because it might blow up anytime.

It's always a good decision to hold bitcoin for a long period of time. The price is ever increasing and it is believed to be increasing in the next years. Make sure only to store it in a safe wallet, if you hold for long term, better to store in a safe wallet either opensource or hard wallet. Avoid storing it in a wallet which do not give you a full control of your fund such as exchanges.

[CSTOKEN]

only hold what you can afford to lose.
Its great when its going up in price not so much when its dropping .
great question tho.