Spend or HODL Bitcoin during COVID-19?

[lifeOK]

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.

Yep, especially considering bitcoin as long term Hold it's give more confidence. I'm going to hold i really believe in bitcoin than any other cryptocurrencies. There are tons of reason for purchasing BTC now and tight with by helping trusted wallet.

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[Alucard1]

What would be the right thing to do during COVID-19? Should I spend Bitcoin or should I just "HODL" it?

It depends on the person or the financial stability of the person, if you are fortunate enough to sustain your basic needs then it is better to still hodl your bitcoin and wait for the right time to exchange it but if you are not fortunate one then you don't have any choice but to use your cryptocurrency for yours basic needs that is important for this pandemic situation.
 

only hold what you can afford to lose.

Yeah, that is the common advice that we can have about this topic, your extra money would be enough for you to hodl then separate other money for your needs in everyday life.

[Mahdirakib]

I'm holding the coin what I have invested long ago. I will touch that wallet when my mind get satisfaction with the bitcoin price rate. Actually I will hold it until bitcoin reach new ATH and make historical movement. For regular trading or buy sell I use other funds and wallet. Different people have various thought. So you will see all type of opinion here. Finally the decision upto you.

[sapnu]

My holdings have nothing to do with the pandemic since I am aiming for higher gains, I will still hold it for a longer time until the prices rises up. I have actually few tokens that I am holding for a long time. It actually depends on the people if they will spend that because at a time like this, profit is hard to gain since pandemic is still there but if you have savings that you can use, maybe just hold your bitcoin and wait for it to rise up in value.

[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.

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.

You sell if you have gained profit and it's why we hold investments like bitcoin. The goal for aiming bigger profit depends on your goal. You can eventually buy at cheaper price of bitcoin if you have to sell it. This is one of the good things in buying, holding or spending bitcoin.
You get to have the profit and if you want to take it again, you can always buy depending on the market's price and the season. If it's bearish season, the favor is in you and you can get back your sold bitcoins at cheaper price or at least lower than the selling price.

[AniviaBtc]

If there is no compelling reason to spend BTC when the price continues to increase, then don't do it.
But if it's about your daily needs, you don't have to spend BTC all at once, right? Just spend the daily profit and keep the BTC worth of initial capital or a little higher than that so as not to miss the train on the next ATH.

Self-discipline is what we need to enhance, and this Covid-19 is the right time to practice it, especially that we are not making some bitcoin transaction these days.

I know that bitcoin is still not in a mainstream, we need to accept that, but if we do our best to tell others that bitcoin is the right investment to help us amidst this pandemic, then we can make Bitcoin community grow larger. Never spend if you don't need it necessarily because you know that bitcoin is volatile in the market and to avoid regrets, just hold it and wait for the ATH.

[carlisle1]

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

When you traded your Bitcoin that means you had already spent the chance of having this so that is categorically Spending.

While in my part i Literally spent some When i needed a Cash to pay for some bills that cannot be done using Bitcoin.
But i'll Keep my Holdings as long as a can since it is clear that market is now on the move to go straight up in the sooner days.

[CaVO32]

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

When you traded your Bitcoin that means you had already spent the chance of having this so that is categorically Spending.

While in my part i Literally spent some When i needed a Cash to pay for some bills that cannot be done using Bitcoin.
But i'll Keep my Holdings as long as a can since it is clear that market is now on the move to go straight up in the sooner days.

Not many people can afford to keep their bitcoin in their wallets. A lot of us here need to spend some bitcoin for necessary expenses because a lot lost their jobs or reduced their income because of the pandemic situation. If I can afford not to touch my btc, I will do so. But need to use also my btc for personal expenses. Lucky for those that can let their btc sit in their wallets. As I believe btc will further increase its value, those who are still holding will reap their rewards in the future.

[3meek]

If you have a feeling that you will not survive this pandemic or if you have weak immunity, I would spend all the bitcoins on alcohol, drugs and women to leave this world with pleasant memories!  Just a joke...
I would not spend bitcoin without needing it! This currency has a great future!

[Fatemablabla]

If I say the truth, I am spending my crypto to live in the current situation. But not all. I am working and earning crypto at the moment. This is my only earning source, so I have to pay my bills from this. But also have some funds in a safe place for a long HODL.

[KnightElite]

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.

There is no correct answer because it all depends on what we can do, if we are good in trading then why we should hold because a good trader can easily increase the amount of btc that they have in trading but if you have characteristics of a long term investor then it is better to do HODL than trading. When the pandemic starts, most of the financial market crashed and cryptocurrency market is belong to it, it created fear but it managed to hold and recover. Now, the bitcoin is now in uptrend and it became trending after it broke out the recent resistance at $12,000. In this kind of situation, the thing is it is better to hold and many traders calling it as trend follower and you will just sold it after it breakdown in a support or it give weakness in short term time frame. I have bitcoins that I hold and I also have bitcoin for trading but my portfolio in HODL is more expensive than the portfolio that I have in my day trading port.   

[Cnut237]

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?

If a thing is appreciating as a store of value, then hold it if you think it will appreciate some more. Doesn't make sense to spend something that's increasing in value, unless you need to.
It's a personal judgement call, really. Bitcoin is seen by some as a store of value (with a case that is strengthening as governments print more money to keep their economies afloat), and by others as a highly speculative asset and the first thing to sell when the economy starts to drop.

[Peanutswar]

Before the covid start, I have some small amount of bitcoin which is good just to earn a little profit, and I hold this coin for a long time because I don't need too much spending of bitcoin more likely for investment only bitcoin.

I would not spend bitcoin without needing it! This currency has a great future!

this is one of the best ideas for me because if you don't need to spend something with the use of bitcoin wait now and hold to get earning. Also staking one of the best ideas too if you want to save some money.
Also during this pandemic is hard to have a job or source of income, it's not the time for wasting money/bitcoin. Also, there is a lot humor that the bitcoin will surpass the previous ATH.

[Nhor1011]

Holding or spending of bitcoin during covid 19 is depends on everyone situation. Covid pandemic give us a difficult time that's why if you don't have enough cash money to spend for your family daily lives and yet you have bitcoin in your wallet, I think you will sacrifice to spend it rather you will see that your family are hungry. Those with enough cash to sustain their daily needs for sure they will hold their bitcoin during covid 19 pandemic.

[acquafredda]

On the long run, given the peculiar characteristics of bitcoin (scarcity, censorship-resistance, network effect, adoption etc.) I was always convinced that it could have been valuable over time. It is a form of hard money that needs to be the last thing you spend.
By the way, do you know why central banks hold gold? Because it is a status, the more they have the more trust the get from markets. Unloading it would mean something is going bad: the same principle applies to bitcoin. I have a very tiny amount available for spending and every time I use it, I replenish it (buying more).

[Renampun]

each person surely gives a variety of answers...

I personally don't HODL Bitcoin at this time of crisis because I really need money for household expenses especially since my husband still hasn't got a job until now. if not necessary, it is not advisable to sell Bitcoin, but if you are pressed for necessity, immediately sell it.

[Darooghe]

I think for most people the choice of holding or selling bitcoin depends on the price at which one bought his bitcoin. therefore, If you really want to be liquid and bought at a lower price and have no other alternative I would advise you to sell. But If you have other sources of income, bought at a higher price and you do not directly depend on your Bitcoin profits, then hold.

[shoreno]

each person surely gives a variety of answers...

I personally don't HODL Bitcoin at this time of crisis because I really need money for household expenses especially since my husband still hasn't got a job until now. if not necessary, it is not advisable to sell Bitcoin, but if you are pressed for necessity, immediately sell it.

its refreshing to see a woman working with bitcoin because all that i see are mostly men and thier wife dont have a work except doing house task but some wife have a different job that are away from cryptos . your on a tight situation now and you have no choice  .

btw what happen why your hubby has no work ,he got layed off because of the covid ? thats acceptable if its because of covid but he still try his best to apply for other jobs so that he can help  you so that you wont need to sell your btc anymore . your btc can be a big help in your family in the future .

[Boravenchy]

Definitely HODL until the coin becomes widespread enough that spending is possible with ease

[proTECH77]

Sometimes holding bitcoin too long can make some lose their profit. Over two weeks now bitcoin price is increasing gradually which is also good to supply to market to make a good profit than hoping that the price will go higher more than the way it's now, not knowing that it will not increase more than that in this year.
Many people never think that bitcoin will still rise at this point of covid-19,where many businesses collapsed during the pandemic even other cryptocurrencies where also reducing price in the market.many who hold their coins for a long time released them to market during the lockdown,hoping that the market price will be reduce than this.
Bitcoin  is rising other cryptocurrencies is reducing in the exchange market. This is the time to release to market because anything can happen to market that will make some say oh I which I know.