Spend or HODL Bitcoin during COVID-19?

[Question123]

Maybe because of the lockdown in the different countries help the bitcoin to rise because people are not go to the outside to work so they need to find a work and that is through online and maybe more them found the bitcoin.

Holding bitcoin in during quarantine is good because if you are the one of the holder on that day and upto this now you gain a good profit and you will get more once yoi hold it.

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[Wesleyeric]

I will say that all bitcoin holders should hold there bitcoin and be observing what is going to happen,But the issue there is nobody knows, Bitcoin is the only stable  currency during the Covid19, Other currencies had some little issues one way all the other, But I will say that it a choice, spending or holding it is just based on individual needs, bitcoin will ever stand no matter what happened in the world, as long as is not a physical currency, the power of bitcoin increases in daily basis, Well I will say that bitcoin is the only coin that can link other currencies together, the straight of bitcoin continue to increase as the positivity of the holder increases.

[Istiaque]

No one will be disappointed because of Covid 19 tighten yourself. Need to try to deal with the situation good decision to hold during COVID-19. There is nothing to panic about as there will be risks in everything. The next step is to think positively the better time to invest in bitcoin the more the price will rise. Don't be disappointed if the price goes down hold on and you will get a lot of profit.

[yhiaali3]

As for me, I prefer to hold a portion of Bitcoin and spend the rest on my daily needs during the Corona epidemic, as you know, prices have now doubled and the price has increased in all countries of the world as a result of the epidemic, so the salary that I get from the job is no longer enough and I need to spend more money.
On the other hand, you should not spend all the bitcoin that you have because we are waiting for a new ATH of Bitcoin towards the end of the year or the beginning of the next year so it is good to hold a good amount of Bitcoin until that time.

[maartenhaha]

I still have stock of bitcoins and altcoins stored before the pandemic, I have already made multiple profits but I haven't thought about selling them, just waiting to reach the new ATH soon because it is supported by the gradual recovery of market movements

[jerrison]

It depends on the category of persons, some people do spend their bitcoin cause they bought it to make transactions for financial purposes or reasons due the present situation but investors do not spend bitcoin no matter the situaion.

[oldbuddy]

Since I found Bitrefil can sell me Gift Cards for my local grocery store, it means we eat just as well as we did when my wife was working and that gives me a better feeling than dreaming about how much I can stash away that I may never live long enough to enjoy.

[ardentvolcanoes]

It depends on the category of persons, some people do spend their bitcoin cause they bought it to make transactions for financial purposes or reasons due the present situation but investors do not spend bitcoin no matter the situaion.

Investors who aimed to use this coin as their assets for investment do have spare fiat to use for their everyday payment transaction. They use

bitcoin as good reserve during this pandemic, for those who continue holding it from the time this virus affects the whole economy, they are now

benefactors as the value really rise high.

[jeniferqueen0409]

I observed that during this Covid-19 wave, the Bitcoin price increased gradually, so depending on the needs of each individual, we have our strategy to be reasonable. If Bitcoin goes past $ 20,000 I believe Bitcoin will be worth it for us to hold instead of selling it. Maybe Bitcoin will make a record price in 2021 this year.

[Mike Mayor]

Bitcoin is a currency and meant to be spent. The price right now is really good so I see no problem with spending some bitcoin. It's meant to be spent and it's good for the network it's good for the economy and business.
I mean if no one spent their bitcoin imagine that? The network would just sit there and do nothing except for the mining transactions.

[Smartprofit]

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.

If you have fiat cash flow I would not advise you to spend bitcoins. 

The global financial system is undergoing a transformation.  All countries are busy developing central bank currencies (CBDCs). 

For example, the Central Bank of Russia recently announced the creation of a digital ruble.  In Russia, three types of fiat money will be used simultaneously - cash, non-cash money and the digital ruble.

I think that in such a situation, rich people will start converting their capital into gold, stocks and bitcoins.

[fabiola!]

HODL!
And put some, not more than 50% in some CEFI, not DEFI, earn interest which you should spend for living.
I hold and send my BTC  mining rewards to apyharvest.com and earn 7.21% APY . I also hold there ETH @ 7.82% APY and some nice amount of USDC @ 14.96% APY.
It is best way to hold BTC. Also i highly recomend their service.
This is not ad, i do not want to post my referral code here. Just info from satisfied customer.
I also hold some coins at celsius, but their BTC and ETH APY% is lower and they do not support direct mining to interest account.

[Nellayar]

During the start of pandemic, it's sad because I sold what I have in my bitcoin wallet for the sake of my family daily needs specially foods. But after a month I earned again small amount of bitcoin which I hold until now and wait until bitcoin will be more than $20K in value. It's very interesting and exciting now looking into bitcoin market.

You can't really afford to invest when you can't make money because of pandemic. I am also a bitcoin and altcoin hodler yet there are times that I need to withdraw my money from my trading account because I have no work to sustain my family lives. Its sad because we can't make money during this bull run season. Right now, I gained a little bit in my freelance as well as sig camps. I tried to turned them all in a way that I can double up my profits.

[k@suy]

I observed that during this Covid-19 wave, the Bitcoin price increased gradually, so depending on the needs of each individual, we have our strategy to be reasonable. If Bitcoin goes past $ 20,000 I believe Bitcoin will be worth it for us to hold instead of selling it. Maybe Bitcoin will make a record price in 2021 this year.

We do have our own previleges in life, some were already have their savings that even if they don't have worked and no monthly salary can still provide their needs and the needs of their family. Its not impossible that some of us here which has no choice but to sold or spend their bitcoin during pandemic because they don't have any other choice. Though today wasn't the right time to spend bitcoin because of a high peak of market value.

[thesmallgod]

Well I have sign many critiques about the influence of covid19 on the bitcoin. In fact a lot of people think during the massive restriction and lockdown that bitcoin price will collapse due to the fact that many will result in spending bitcoin since a lot of jobs are being lost meaning saved funds will be only hope for survival, it was another scenario when the government started given out stimulus packages to the citizens to cushion the effect of pandemic. Many people were believed to have used that money to invest in bitcoin and that kick off the initial rise in the price of bitcoin. I believe anyone that invest with the stimulus package will be laughing by now because it was a good and timely decision. hodling or spending depends on individual wants and needs. If you are still having a paying job and not completely handicapped by the current lockdown, then you can hodl but if you rely on your saving probably because you have currently lose you job, it will be hard to keep hodling because you will need money for daily finance and up keep

[Axelseseclevz]

I think it depends on your situation. If you have many bitcoins then you can divided it into two. Hold the half and spend the half for your needs and other necessities but if you have other source of income to provide your daily needs then much better to hold your bitcoin. Bitcoin has a bright future and now it will preparing to reach more higher value in the market.

[Abiky]

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.

Agree. I wouldn't touch my Bitcoin even if I'm tempted to do so when prices are rising like skyrocket. There's more to crypto than meets the eye. PayPal's recent announcement of letting people buy or sell crypto, tell us that adoption for the industry is increasing at a fast pace. I believe that the best is yet to come within 2021. Imagine Bitcoin hitting $50k next year due to the ever-increasing demand on the market. You could reap a lot of profits if you've managed to "HODL" most of your Bitcoin. Unless you need the money right away to survive, I wouldn't recommend anyone to touch their coins in this bullish trend.

Nonetheless, the decision of selling or "hodling" Bitcoin lies on the person himself. It's always important to be in control of your decisions knowing when to say yes and when to say no. Don't let anyone influence you on making decisions that you'll regret in the long term. Instead of making your decisions based on someone else's opinion, you should do your own research about the specific cryptocurrency your investing into. By doing that, you'll be able to achieve peace of mind regardless of what the price of a cryptocurrency will be on the market. During a bull market, I usually sell some of my Bitcoin holdings for profit. The rest is stored on a cold storage wallet for the long term. By doing this, I'll be able to exploit every opportunity that comes during a bullish trend. Just my thoughts

[Traderbtcc]

It seems that during these times of turmoil, Bitcoin's prices are increasing at a slow and steady rate.

No doubts, the price of bitcoin have increased tremendously during the pandemic, it has also been able to hit its ATH after 3years, and it reached the ATH during a year when the financial system of the world crashed, who would have known that the pandemic would favor bitcoin afterall .

This gives Bitcoin "hodlers" greater spending power than before in terms of Fiat.

Bitcoin hodlers definitely have more spending power right now, because as the price of bitcoin keeps increasing the value of bitcoin compared to fiat is also increasing,meaning hodlers can use their bitcoin to buy more things now,but I'm not sure a real hodlers will still want to spend his/her bitcoins right now,they will want to keep holding it.

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

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

If you don't need the money urgently, then there's no need to sell your bitcoin, it's best you keep holding them.

[South Park]

Now bitcoin is growing very fast and it must end sometime. Most likely something like 2017 will happen. Therefore, if I were you, I would not sell all bitcoin, but part of it needs to be sold while its prices are so high.

This makes sense, obviously the optimal strategy will be to never sell your bitcoin until it reaches a price so high that it changes your life, but we know that reality is not so simple, the pandemic has changed the world and many people are trying to survive to the best of their abilities, if you have some bitcoin then this is the opportunity to use it while it has a huge value compared to fiat, many people do not like this because they think that those people are going to regret their actions but if you need that bitcoin in order to buy food or other necessities you do not really have any other choice.

[dadach]

From the looks of how people will act in case of even bigger crisis, i am definitely aiming to come out every month with the bigger btc amount.