Spend or HODL Bitcoin during COVID-19?

[angrybirdy]

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?

It actually depends on you. If you have enough money to support yourself or your family for a living during this covid-19, then you should stay to hold your bitcoin. You shouldn't spend it as much as you can since there is no one who can tell what would be the worth of it in the next following months.

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[Ayiranorea]

This is all about the user's self interest and the ability to withstand. Once after covid-19 people have suffered a lot in terms of economy, medical aid, and meeting daily life needs. By this time one should understand and take decision, he should prioritise what is quite necessary for the moment and do the right thing than going on hodling for future profits.

[kamusa]

HODL will be better than spending it, and as the price grows, it will be a lifesaver for your finances.

[Viscore]

This is all about the user's self interest and the ability to withstand. Once after covid-19 people have suffered a lot in terms of economy, medical aid, and meeting daily life needs. By this time one should understand and take decision, he should prioritise what is quite necessary for the moment and do the right thing than going on hodling for future profits.

Covid-19 is not a usual situation, it's a pandemic where everyone struggle financially due to lack of opportunity to earn, now we are ask if we hold, I guess the answer is easy, it depends on your current situation, when you are struggling financially, why hold when you can use it to survive.

[matchi2011]

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?

It actually depends on you. If you have enough money to support yourself or your family for a living during this covid-19, then you should stay to hold your bitcoin. You shouldn't spend it as much as you can since there is no one who can tell what would be the worth of it in the next following months.

If you allocated your bitcoin for investment and you have separate funds for your needs even during this pandemic, better continue
to hold and wait for more good news that happen.

Bitcoin again gaining support from businesses and investors. With this continuous run expect to see more pumped possible to reached
$25K-$30K after this year.

[acquafredda]

I have been consistently following my small strategy: buying the same amount of Bitcoin every month (what others call DCA, but I am not in the dollar area). This has always been a no-brainer which has given me peace of mind. I don't care what the price is, I simply accumulate.

[South Park]

When the Coronavirus occur numerous individuals lost their employment including me. I am an understudy and live in a flat, I bear my costs through my compensation. In the wake of losing my occupation, I begin using bitcoins. I Pay my lodging expense, purchased books, and spend my coin on my daily life activities which are necessary to live. I want to express profound gratitude to the bitcoin who uphold me in my tough time

You are using your bitcoin correctly, many say that we must hold our coins no matter what but there are many circumstances in which this does not apply and you are experimenting one of those, money in all its forms is there in order to help us to get through difficult times and there is no doubt that the coronavirus pandemic that we are facing has affected every single person around the world, and if you lost your job and if you have some bitcoin in your wallet then it is fine to use that bitcoin to help you survive.

[Sirait]

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.

^ all depends on the needs of the holders. if you really need funds then it is fine to sell the Bitcoin you have, but if you don't need fast funds then you don't need to sell Bitcoin, and I recommend HODL until the price is really high.

[glowing10]

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.

I happen to sell some in between due to personal requirement of money during lockdown days. Had no choice so no regret that sold for cheap as after that bitcoin price has risen. But continue holding the rest and will do so because it seems that we might see crossing 20k soon. As well looking to buy during the dips as a short term investment.

[Vishnu.Reang]

In case if you have expenses to take care of, then obviously you need to sell some of the coins that you are holding in your wallet. The only thing to remember here is not to do panic selling. There will be several rounds of correction before Bitcoin is able to breach the $20,000 per coin level. Be patient while the correction is underway. Sell your coins, once the price recovers after the correction.

[jademaxxiss012]

It all depend on the demand of the people, if you will going to see more and more demand meaning an increase of market then hold it. Once you think you are satisfied with the increase then sell it. In my case I can't be greedy getting profit is already good and that current price at the moment for bitcoin is already an ideal if you are holding bitcoin to sell it. Well, it all depend on you but in my case I rather sell now than wait for the whales to dump bitcoins and you can't earn profit anymore.

[samputin]

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.

^ all depends on the needs of the holders. if you really need funds then it is fine to sell the Bitcoin you have, but if you don't need fast funds then you don't need to sell Bitcoin, and I recommend HODL until the price is really high.

Definitely. There could be no specific answer to this question that fits everyone. All of us here have different situations to deal with amidst this pandemic and the choice between spending or holding bitcoin depends on someone's needs. Some might hold, some might sell at some point. But both are justifiable but considering the price of bitcoin now, it would be better to hold unless you have an emergency to use your coins.

[cheezcarls]

Buy low and sell high if we do day trading. It really depends on the perspective of the person. If they did bought Bitcoin on January and #HODL it until now, they would have enjoyed their gains by now. If I were in their shoes and bought Bitcoin during it's lows, I would hold it until it's the right time to spend it.

[hossamdz]

As the members said above its all depend on your self , if you need money to buy things and you can pay with bitcoin thats fine , but if you will buy things with bitcoin just to buy them i think its better to hold your bitcoin and trade it if you are a trader , by this way you can make more profit from the current market especially when the altcoins bull run havent started yet , thats what i would do anyway

[fileo]

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.

Why hold as much as he can if he already earn huge profit?
Just in case he already earn enough profit, I think isn't advisable to hold Bitcoin anymore because he can actually trade Bitcoin. For example he bought it for just $9,500 few months ago. Then now if he will sell it big enough profit he earned. He can sell and buy again Bitcoin than just hold it without progress. This is just my opinion.

[dupee419]

I'd heavily say both spend it and HODL some, it's been a strategy that every holder does, you'll never know if the price would go upwards, it has been a series of crazy ups and downs but having to split 50/50 on whatever your are holding right now is a gold idea, at least you get to buy all your necessities during this pandemic and also save up some for othwr expenses and then hold the remaining BTC for future purposes, we don't know when will the pandemic end so it's best to split it for the sake of upcoming price spikes in the future.

[Jeger.Kiting]

When it comes to the problem of living necessities it is indeed very difficult to choose to hold or throw it away, because an epidemic like Covid19 is not expected by everyone, and we are also required to keep our distance and close our businesses and have to work at home, if we have a large amount of Bitcoin, maybe half of it. or some BTC that can be thrown away to cover the necessities of life, but if you have a small amount of Bitcoin then, like it or not, you must throw it all away, so you can play the money to open a small business, at least be able to get income even though it's not too big, because we know that it is very difficult for us in this pandemic to get money, at least we are already trying to make an income ..

[Pom_bensin]

For me, spend or hold is the same. as long as you get the profit and opportunity for big it is not a problem. but it must be thought beforehand before holding or spending so as not to fall into losses

[mezzaluna]

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.

Why hold as much as he can if he already earn huge profit?
Just in case he already earn enough profit, I think isn't advisable to hold Bitcoin anymore because he can actually trade Bitcoin. For example he bought it for just $9,500 few months ago. Then now if he will sell it big enough profit he earned. He can sell and buy again Bitcoin than just hold it without progress. This is just my opinion.

That sounds reasonable but we really cannot force others into what we want or even the opportunity other users are missing so as long as it is not destructive among all users, the decisions that we made must be made with clear minds since it would be a great deal of money that we might be losing if we decide slowly. HODLing for some is like when they wanted it to leave as a legacy and since I'm reading a lot topics that tackle that topic, it is possible that some people are only HODLing so that they would give it to someone else.

[XZERO1]

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?

I'd do both, I don't see any reason to not use bitcoin to pay for stuff online as well considering how easier it is to use crypto for payment these days, if you don't have any extra Bitcoin aside from the part that you set aside for long-term investment then you just have to convert some of your fiat to Bitcoin for your day to day purchases, but if you're just on the fence for spending the BTC that you initially bought for investment then I wouldn't spend that specially until this pandemic exists and is not totally gone, just let it ride and even if it goes down keep holding as in my opinion it always will go back up, it could take months and even years at time but it will.