Spend or HODL Bitcoin during COVID-19?

[Studio_xperience]

It would be wise to sell some Bitcoins.. and help those in need during this pandemic.. and ofcourse to have a cool chilled beer and relax

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[pankowri]

It depends on people's minds and funds. If you have extra funds and you want to spend to earn more money by trading then you can go for investing in crypto. It will be a smart choice to earn money. I am a student and crypto is the only earning source or mine and I spend money which I get from here and also sometimes try to invest. So it depends.

[CarnagexD]

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).

But then again, we have some investors here that have bitcoins as their last resort or worse, they haven't diversified their portfolios yet. This would mean that they got no other choice but to cash out their bitcoins or die of starvation or COVID-19. Pretty sure the outside economy will recover and they will be able to regain their losses, but lives cannot be reanimated once gone.

[Majharul Saiif]

Necessity makes a lot of sense. The middle and lower classes who are suffering from this epidemic are suffering very badly. My opinion is straightforward and simple. For those who have bitcoin and are having a hard time spending the day, it is best to spend it. If you get a good value, it is better to sell Bitcoin and bear the cost. Because when all is well, Bitcoin will be there again, there is no point in worrying about it. Rather, it is wise to overcome the current problem.

[The cure]

If you need to buy for daily consumption and you know it in yourself that you have no other source yet because you are one of those who really affected much by the pandemic then go spend your bitcoin and don't hesitate to do that for me it is the best choice rather than borrowing to someone just to survive in this situation. But if you know in yourself that you still have enough funds to survive then much better to hodl.

[Gotumoot]

Hold as much as you can see how much it has grown since the pandemic if you invested back before the pandemic then hold till now then you already have a huge profit.
I would just hold my BTC as much as I could I would only spend it if I don't have any Fiat anymore.

[raidarksword]

As much we want to hold Bitcoin but uncertain things come unexpectedly just like what we have experiencing right now and that's the pandemic than really gave us hard decisions to sell or better hold our assets during these times. Well, it all depends with the circumstances because we all know we have different  life status, some of them are well-off even with this pandemic and they can hold as much as they like. Unlike others need funds to overcome this crisis thru selling their bitcoin and cash it out to have financial support on their daily needs.

[Kelvinid]

I can't promise to keep my holding intact in the current situation we have now. Spending can't be avoided as we need money sometimes. I can't see what is the wisest thing to do but it depends on the situation we have to encounter. As the price of bitcoin keeps moving high the more I'm become tempted to sell it, in fact, I did some because I need money.

The point about holding does not mean we are supposed to hold it longer, 5 years, 10 years. I surely sell them all if I'm already satisfied with my returns, but for now, I have to save some as the pandemic isn't over yet.

[peterpanda]

Bitcoin is increasing rapidly and I think it will be continuing some more days. At this current situation, it will be wiser decision to hold bitcoin if anyone wants to make good amount from bitcoin.

[Debonaire217]

Just like what you've already mentioned OP, most people are turning bitcoin as their store of value. So what we can do to our Bitcoin depends actually on what we need. In this time of the pandemic, the store of value characteristic of bitcoin for us is necessary for us to have backup funds that we can withdraw whenever we need it. It is also correct that since most of the job today was remotely conducted, there are some people who lost their job, and with just a fund to store in a bank will not enable them to earn more unlike with Bitcoin, where people could just wait till the fruit was ripe just like in what we have today. Bitcoin just reached an ATH of more than 15k this year.

Imagine, at the start of the pandemic if we bought at 10K USD, we have huge funds available to help us out with our needs.

[shamimal93]

Bitcoin is my danger partner.  So in this catastrophic situation I will definitely hold my bitcoin.  As the mainstream economy suffers, there will be little pressure on Bitcoin.  And the demand for bitcoin will increase during this time.  This will increase the price of bitcoin.  And because of the price increase, many holders will sell bitcoin.  So my advice would be don't sell your valuable assets unnecessarily.  Save Bitcoin for your peril.  It will be like an absolute friend by your side in your difficult times in the future.

[Genemind]

Bitcoin is the best investment that I have but unfortunately, due to the pandemic crisis, I have to use a portion of it to sustain our needs. I spent almost half of it but I didn't regret it because I was also able to help my relatives and neighbors by donating goods during the lockdown.
The price of Bitcoin now is getting higher so I believe that my little investment would still recover soon.

[pinggoki]

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.

If you will ask me if what would be the right thing to do during covid 19 where the business is currently dying and also their are so many people who are jobless right now, then what would be my answer? during this pandemic I have my bitcoin and I am holding it for at least some years but I am forced to used it to support my daily needs and also my family needs during the pandemic because we need something to eat and we need money to buy some goods in order to survive the pandemic.
What my point is if you have some money to used during the pandemic then GO just HODL your bitcoin, but if you don't have then go just sell it and used it to exchange and buy some goods or products for your family.

[finaleshot2016]

Why would I spend it if the current price is this? 



Of course, we should HODL our bitcoins right now, there are many speculations that it will reach $20k this year. If you're doubting bitcoin's potential, sell the half and HODL the other half so you won't be disappointed if the btc's price fell down. Bitcoin is still going up even the pandemic right now is getting worst, some of the countries occurred 2nd lockdown while the economy of others is falling down. Bitcoin save me during the pandemic, from $5k to $15k, who wouldn't trust its potential now?

[Golftech]

Bitcoin is the best investment that I have but unfortunately, due to the pandemic crisis, I have to use a portion of it to sustain our needs. I spent almost half of it but I didn't regret it because I was also able to help my relatives and neighbors by donating goods during the lockdown.
The price of Bitcoin now is getting higher so I believe that my little investment would still recover soon.

Good thing that the value is still rising up and those money that you spent to helped other people will be covered in terms of fiat value.
Choosing to do good when its needed is really the best way, you still got portions of your investment that you can continue to hold if
possible not to use it and wait till bitcoin price deliver your target profits.

[carlfebz2]

Why would I spend it if the current price is this? 

Of course, we should HODL our bitcoins right now, there are many speculations that it will reach $20k this year. If you're doubting bitcoin's potential, sell the half and HODL the other half so you won't be disappointed if the btc's price fell down. Bitcoin is still going up even the pandemic right now is getting worst, some of the countries occurred 2nd lockdown while the economy of others is falling down. Bitcoin save me during the pandemic, from $5k to $15k, who wouldn't trust its potential now?

For people who do have their own job and able to sustain themselves on this time of pandemic then theres no point for you to spend or sell of your bitcoin holdings

but for people who do rely into their crypto investments and earnings then we cant really tell that they shouldnt really spend up their coins or making up conversions.

If it means that it would be needed for you to survive then selling it wouldnt be a bad choice.It varies on circumstances yet we do have different situations in life.

For overall then we do know on whats the potential of bitcoin when it comes to future but nothing is assured most of the time but chances to go up is high.

[bgaisha]

Yes of course, Hold

[Abiky]

Why would I spend it if the current price is this? 



Of course, we should HODL our bitcoins right now, there are many speculations that it will reach $20k this year. If you're doubting bitcoin's potential, sell the half and HODL the other half so you won't be disappointed if the btc's price fell down. Bitcoin is still going up even the pandemic right now is getting worst, some of the countries occurred 2nd lockdown while the economy of others is falling down. Bitcoin save me during the pandemic, from $5k to $15k, who wouldn't trust its potential now?

I was tempted to sell some of my Bitcoin at first. But now that I see prices are going all the way to the moon, I think I'm going to "HODL" my Bitcoin for quite a while. Bitcoin just got past the $17k range, leaving it at $18k per coin. It seems to me that Bitcoin will get past its latest ATH of $20k per coin by 2021. Selling Bitcoin for cash now, may not be the wisest decision to make (unless you need the money right away for survival). I think I'm going to sell altcoins instead of Bitcoin, as most altcoins are not reacting positively to the current bull market.

Nonetheless, the decision of selling or "hodling" will ultimately lie on the person himself. No one can force you to either "hodl" or sell Bitcoin at any given point in time. Always remember, 1 Bitcoin will always be equal to 1 Bitcoin regardless of its price on the market. It's all about usability instead of current price on the market. The recent boom in price tells us that demand for Bitcoin is increasing at a fast pace. Bitcoin's volatility can make you either rich or poor in an instant. It's like a roller coaster ride if you ask me. At least, the decentralized and open source nature of Bitcoin will keep it going for many generations. And that's what truly matters here. Just my opinion

[abderrazak belkhir]

First i was thinking that bitcoin price will fall because of covid 19(people sell their coins to fiat to avoide economic isseus) but what i see is that covid didnt affect crypto holders at all,as you can see the curent market situation

[wtfmidn]

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.

Surely, the ultimate point of investing in bitcoin/crypto is, for most, the gains that you can make in your overall wealth in the medium-to-long term? I mean, ultimately, hodlers want to generate more wealth and traders want to generate more crypto (wealth), but both have their eye on keeping crypto (even as a stablecoin). Nobody 'sells' their crypto unless they're a newbie or have no medium-term confidence in it. As it's 2021 next year, the end of the 4-year cycle where everyone is anticipating the bull market to really kick-in, selling now seems like an act of financial suicide to me (at least).

For newbies who are just coming in for a bit of a gamble, hoping to double their wealth overnight in order to buy [say] their kids a decent birthday/Xmas present, I'd say that you might as well go to your local casino and put what you have on red or black at the roulette table.