Spend or HODL Bitcoin during COVID-19?

[Vishnu.Reang]

Right now the rally has just started and it will be a retarded move to spend your coins. I would rather recommend waiting another 2-3 months, when impact of the Bitcoin adoption by PayPal will be clear in the cryptocurrency market. The exchange rates are so close to the ATH level. Once it is breached, we can expect a very sharp spike. But then, the decision depends on the individual.

[hridoyb]

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.

Most of the people sell bitcoin when they need money emergency and this time don't think others. Bitcoin holders never be a loss but the maximum time we see that people sell when its a panic time or need money emergency. Now after a long time bitcoin up to 19000$+ and hope it will be 30000 $ soon. Most of the bitcoin holders never set their profit when the price is so high they become so greedy and never sell but when price dumping sells everything. So make you sell rate first then you can sell or hold more long time as you want

[ardentvolcanoes]

Right now the rally has just started and it will be a retarded move to spend your coins. I would rather recommend waiting another 2-3 months, when impact of the Bitcoin adoption by PayPal will be clear in the cryptocurrency market. The exchange rates are so close to the ATH level. Once it is breached, we can expect a very sharp spike. But then, the decision depends on the individual.

The decision should be based according to how you understand the market, while the value continue to spike it's not appropriate to use it by now,

much better to keep and hold, there's a lots of possibilities that it will continue to grow, you mentioned the after effects of PayPal, it's still on the

process but in long run it will attract more institutional investors to start moving inside and take part of this industry.

[Zalfa_mui]

depending on individual needs, but if there is more and unused money, it's better to invest in bitcoin, it will provide a lot of benefits because bitcoin will slowly go to the top. But if the money is to be used it's better not to buy bitcoin because during the covid period,  we are all so hard to make money

[cryptopediabd]

It's continuously a great choice to hold bitcoin for a long period of time. As it were hold what you'll be able manage to lose. I'm holding the coin what I have contributed long back. My investment have nothing to do with the widespread covid.

[sayaya17]

Although there will be a little regret when bitcoin is already ATH, but if the need for something is very urgent, we can’t wait for it, right!
With Prices of bitcoin are constantly increasing, indeed the desire to spend bitcoin is very tempting. It's happened because we have already take a profit if someone buys bitcoin at the bottom price. It's doesn't matter because someone already takes profit from bitcoin. It is not something bad.
But because human nature is never satisfied, then he will be greedy and that is natural. Especially if bitcoin can reach ATH. I don't want to miss it either.

[mich]

This is a good question because I was very tempted to sell some my satoshis when price reached point of $19,000 usd. 

But I did not sell and now I am regretting it big time.  But I feel spending during Covid 19 is not a good idea either unless you do not have enough fiat money.

I do not think spending Bitcoin in general is good idea so especially not during Covid 19.

[Astvile]

Spending amidst this pandemic is not advisable unless its necessary and you needed the stuff you are going to buy. Hodling will be alot better if the money you put in bitcoin is just pure extra money for investment and you have extra money to sustain your daily needs.

This is a good question because I was very tempted to sell some my satoshis when price reached point of $19,000 usd. 

You should not regret any of your decision in bitcoin and specially if you are trading right now. Just stay calm and HODL. Once bitcoins price breakout again the price will surely be higher than $19k from last pump. You will get nothing from regretting not to sell, all you can right now is stay positive and trust in bitcoin.

[kavabanga07]

Let's wait for the btc on 3K again!
Btw is anyone here investing in stock markets as well?

I'm interested in ipo, abnb stock IPO exactly.

There is no exact date when it will drop the stock however it could be dropped on 10th of dec so was wondering if to buy the ipo is a good idea. sorry for the offtopic btw

[@Juma1435*]

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.

How can you call it slow and steady if we went from $10k to now $13.7k in a matter of days? And before that the price was largely stagnant for months and even mimicked small movements of the stock market. Also, there's no evidence that regular people turned to Bitcoin en masse, and that the price boost is caused by that.

What's happening now is just the usual Bitcoin speculation. In 2019 we also reached $13k, without any pandemics or other possible explanations.   

What would be the right thing to do during COVID-19?

Covid doesn't change anything here. There's never a right or wrong answer to "spend or hodl", because no one can predict the future movements of Bitcoin.

In no way do I think that this epidemic of coronavirus has any effect on the rise and fall of bitcoin because no one can say exactly when the price of bitcoin will rise or fall. Bitcoin moves at its own pace so it may be our misconception that this epidemic  Coronavirus causes our bitcoin prices to go up or down so it's best to get out of this misconception.

[Vaskiy]

This is a good question because I was very tempted to sell some my satoshis when price reached point of $19,000 usd. 

But I did not sell and now I am regretting it big time.  But I feel spending during Covid 19 is not a good idea either unless you do not have enough fiat money.

I do not think spending Bitcoin in general is good idea so especially not during Covid 19.

If each and every user have the same mentality then how will the circulation of bitcoin takes place over the network. Even when we prioritise bitcoin as an investment, we need to spend little bitcoin when necessary. If there is zero circulation or zero usage the network will go without any usage.

There is nothing as don't use during this time period. This is the situation where people weren't able to afford the basic necessities. By this time it is a good choice to sell for the living, because we don't know whether we'll be alive tomorrow.

[proTECH77]

During the covid-19 where many people find it difficult to grow their business and other business activities in the country just because of the virus that was spreading all over the world. I release all my coins to market to make a reasonable profit which am still using it  to grow my business and family. Bitcoin is still rising in the market which can still help some investors to make a good profit than holding the coin which market can change at anytime.
I make a good profit during the pandemic that caused some trader to lose their job and some where finding it difficult to feed their family base on what corona virus has caused to the world economy.

[hridoyb]

Bitcoin is a very volatile asset and its price always difficult to predict. But so far bitcoin has proven that it is an asset that is resilient to pandemic situation and its price is increasing. There are many factor that cause bitcoin price to increase especially as stock investor have entered the crypto market during the pandemic. The US election have also driven up price and it is evident that many who invested in the middle of this year have made big profit now.

The need for money during the pandemic may have driven people to sell some or all of their bitcoin. This is not wrong, because no one can forbid it. Lots of people have lost their jobs and maybe they can sell the bitcoin they got from campaign or otherwise to make ends meet, pay bills and so on.

Yes. Bitcoin price is so violent because it's a cryptocurrency coin. People are getting a big profit from bitcoin who invest money in the middle of this year. Bitcoin holders never lose and they get profit so huge if they can control when it's panic time.Bitcoin price increasing after the USA election and try to break all previous records. We don't know what's happen in our life next so bitcoin is just a coin.

[Prince Malik]

Crypto is one of the solutions that many families find to help them through the covid-19 outbreak...they become in an unstable financial condition and the crypto that they hold help them alots

[cryptopediabd]

I think most of the time it stands on financial situation. If you do not need any money why should u invest in bitcoin. Than just hodl & w8 for the rest on crypto market.

[Excell110]

Well, spending it would seem like the only option, especially during this period of Covid-19, where physical transactions proves difficult.
 But, it is important to see the bigger picture, one which involves a great profit from holding Bitcoin for long.

[verita1]

I prefer to spend other cryptos and Bitcoin hold as much as possible. The time of Covid19 has been unexpected and difficult but thanks to Bitcoin and crypto they have been the most awaited solution for many.
For what they have allowed to evolve the new and financial systems.

[lepbagong]

no one can predict that the pandemic will end sometime and everyone has tried to do many ways so that the pandemic can be contained and not too big so that the economy can run.

whether bitcoin will be used or hold, it depends on yourself. maybe you really don't have another handle of funds, and have to sell them because of an urgent need, then you deserve to sell. if there are other funds, of course it is very unfortunate that your bitcoin is for sale because it is better to hold it off waiting for the ATH that will occur next year.

[kentrolla]

This is a good question because I was very tempted to sell some my satoshis when price reached point of $19,000 usd. 

But I did not sell and now I am regretting it big time.  But I feel spending during Covid 19 is not a good idea either unless you do not have enough fiat money.

I do not think spending Bitcoin in general is good idea so especially not during Covid 19.

Do not feel sad and don't be greedy too, it's all fate we can't change the destiny forget about the past and wait for some time don't panic sell your asset as the price has went down. This is a temporary correct let's hope for a it will bounce back stronger than ever, if opportunities are missed it's pretty hard to digest but that's how the nature of crypto is built up. And yes I appreciate you for holding your asset during tough times like COVID-19 and now you deserve it.

[bandungan]

no one can predict that the pandemic will end sometime and everyone has tried to do many ways so that the pandemic can be contained and not too big so that the economy can run.

whether bitcoin will be used or hold, it depends on yourself. maybe you really don't have another handle of funds, and have to sell them because of an urgent need, then you deserve to sell. if there are other funds, of course it is very unfortunate that your bitcoin is for sale because it is better to hold it off waiting for the ATH that will occur next year.

hold or sell bitcoin depends on everyone's policy. In the current pandemic conditions, Bitcoin may be of little help if people are struggling in the economy, and this can be used as one of the best moments to get income quickly from bitcoin during the Covid19 pandemic.