Spend or HODL Bitcoin during COVID-19?

[Kong Hey Pakboy]

It depends on one's personal strategy if he would sell or hold his bitcoins during COVID-19 because bitcoin's price is still unstable and it remains unpredictable due to its volatility; that is why it would be hard for someone to decide if he would sell his bitcoin while bitcoin is down again. But if you have nothing to use with your holdings, such as necessities, it would be better to hold your bitcoins for a while and only sell it if you needed money for necessities.

[acener]

I was forced to spend my crypto during the pandemic since I didn't have a job so I didn't have a source of income to sustain everything.
But if I could I would just HODL it and continue to save some BTC.

[dizzy1996]

In my opinion, if you have already invested in bitcoin earlier, then you have already made good money, and at the moment if you look at the situation on the markets in general, that is, there is a good growth prospect, and COVID-19, on the contrary, made it possible for bitcoin to grow even more and for the fact that large companies invest in digital assets since they are not tied to anything and my opinion if you have bitcoin then do not sell it now, but rather hold

[Sapphire915]

Its really hard to hold more Bitcoins during this time of trying. Almost everyone losses their source of earnings since the lockdown started, that they turned to their Bitcoins to spend it for survival. For me, holding Bitcoins is the most wiser way so that we can have something to spend when the situation became worst. Its just similar to your Savings in a Bank, if you did save, you have something to withdraw and you will never be hungry. However, those people who didn't spend their Bitcoins during this crisis are so lucky enough to get huge profits as Bitcoins spikes higher. 

[Strongkored]

In my opinion, if you have already invested in bitcoin earlier, then you have already made good money, and at the moment if you look at the situation on the markets in general, that is, there is a good growth prospect, and COVID-19, on the contrary, made it possible for bitcoin to grow even more and for the fact that large companies invest in digital assets since they are not tied to anything and my opinion if you have bitcoin then do not sell it now, but rather hold

If you have invested in Bitcoin in the early days or when the price is still very cheap then using it for something important is not a problem because one of the reasons about investment is to get a lot of money or assets, if we need it then it is not wrong to use the profit from our investment, meaning we can already enjoy the results of our investment. Choosing to spend or holding it is not a problem and also very much depends on the purpose of each person who owns Bitcoin.

[DarkDays]

In my opinion, if you have already invested in bitcoin earlier, then you have already made good money, and at the moment if you look at the situation on the markets in general, that is, there is a good growth prospect, and COVID-19, on the contrary, made it possible for bitcoin to grow even more and for the fact that large companies invest in digital assets since they are not tied to anything and my opinion if you have bitcoin then do not sell it now, but rather hold

If you have invested in Bitcoin in the early days or when the price is still very cheap then using it for something important is not a problem because one of the reasons about investment is to get a lot of money or assets, if we need it then it is not wrong to use the profit from our investment, meaning we can already enjoy the results of our investment. Choosing to spend or holding it is not a problem and also very much depends on the purpose of each person who owns Bitcoin.

I agree. The purpose of BTC is to help ease the financial hardships at times like this, and it is a personal choice if one's best option is to HODL or sell BTC. And it is true that if an early adopter faces this question, the answer might be easy since the price of sale will definitely reflect a good profit. The opposite might not be so clear (i.e. for a person not having invested in BTC during its early days) so a more thorough investigation by that person is required to reach a decision - at least that's what I think 

[Vishnu.Reang]

My opinion is that COVID 19 hardly had any impact on the cryptocurrency sector. So it should not play any part in deciding whether you should hold or sell your coins. In my opinion, it will be quite foolish to sell your coins right now. Because mainstream adoption is on the rise, and this will translate to higher demand, and thereby higher prices during the next 6-12 months.

[Debonaire217]

It depends on you if you think that you already have a decent profit with Bitcoin, then hold it. But at times like this, bitcoin is unpredictable as it already reached a new ATH, many hodlers are confused whether they should already take profit or just let the market decides their faith. IMO, you can always reenter again in Bitcoin if it dips, but if you think Bitcoin is a great store of value, then there's no reason for you to sell it as what we are all avoiding is when we have sold but the price surge way up to higher resulting for us not going to be able to re-enter again.

[pankowri]

Pandemic situation makes cryptocurrency more stronger than previous position of pricing. I don't know it is good to say but it happened in pandemic anyway.

I have plan for holding my assets for a long time but I can't do it because of pandemic. Because I have lost my physical job so I have to spend money for my family and me.

Those who hold their assets already got protit from it. During pandemic Bitcoin has reached its ATH value and almost traded at $19k+.

[Swopon]

It cannot be explained specifically.‌ It pivots thoroughly on the circumstance whether it will be spent or hold. It is wise to speculate about profit and loss. But it is problematic to be competent at all theaters of life. The moment that is passing covid-19 should be evaluated without thinking too much profit-loss, here you have to think that how to pass this pandemic time perfectly.

[Abiky]

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.

It's a simple, yet effective strategy to accumulate Bitcoin without actually "breaking the bank". A little investment here and there will make the difference in the long run. I'd advise anyone to "hodl" their Bitcoin during a bull market no matter how tempting prices may seem to be. The only exception would be if you need the money right away to survive. Other than that, just keep "hodling". Believe me, I've sold some of my Bitcoin during the 2018 bear market, only to regret making such decision. I was desperate since prices were going down the drain in a blink of an eye. If I would've held onto my Bitcoin today, I would've made a lot of money that could've serve as a retirement fund. Well, I've learned my lesson as I'm not selling no matter what. I believe that the best is yet to come with a Bitcoin halving taking place every 4 years. Imagine how much Bitcoin would be worth in USD by its fourth halving. If you hold Bitcoin today, you could benefit from higher prices in the future.

Nonetheless, I believe that the vast majority of Bitcoin "hodlers" will be tempted to sell their coins in exchange for cash. Newcomers into crypto will be the ones doing such moves, as they're looking to make a quick buck out of this emerging industry. But experienced crypto users will wait for the right time to sell a small amount of Bitcoin to keep the rest for the future. One thing for sure is that COVID-19 has boosted Bitcoin's popularity in the mainstream world. If this keeps up, we'll be able to see Bitcoin reach new heights in terms of market price and mainstream adoption. Just my thoughts

[Lorokan]

I think spending or holding bitcoin in this covid 19 Era would all depend on the needs of separate individual as well as their source of funding. A man totally reliant on trading will take profits from bitcoin to prepare for the Xmas and Chinese new year, while a salary earner bitcoin trader can simply do otherwise.

Either ways, as long as you recoup more bitcoin later, it's good

[Zanab247]

I spend all my bitcoin during the pandemic that was causing hardship all over the country. Since bitcoin was still rising in the market that was making people to make a good income from their businesse in the community.
Bitcoin is still rising that is causing other cryptocurrencies to reduce in the exchange market.

[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.

We heard that hold is gold.Bitcoin and eth is the best and valuable coin on crypto coin...Bitcoin price increasing day by day so if you don't need money emergency buy bitcoin now and hold tight

[Sithara007]

Holding bitcoin is the only smart thing to do right now. The price might go up or down but in the long run, bitcoin will go higher and higher. Many big corporations investing in bitcoin and govt also looking for opportunity to invest. So I think holding will be beneficial in long term.

The trick is to accumulate at lower prices and to sell at higher rates. Right now, Bitcoin is trading very close to the ATH level, and therefore I would say that now it is optimal time to sell at least a part of your holdings. In the future the exchange rates will definitely go up. But no one knows how much time it is going to take. Bitcoin may reach a new ATH level within the next three months, or within the next three years.

[Noctis Connor]

Depending on the situation of the market you decide to keep Bitcoin or not. For me, if I have some money I will keep it because that is a good chance Bitcoin can go up unexpectedly in numbers without anyone knowing. If you can balance both Bitcoin holding and spend for your needs, that's fine.

Yup it always depends on the situation however if you can still hodl your bitcoin then you should keep it longer because bitcoin is at ATH stage again where people are going to pump it up and it will be higher price than we are going to expected , for me i just sell some of my bitcoin if i needed since i don't have job because of the lockdown and it is for my financial daily needs to support my self on daily basis, Holding bitcoin isn't that hard as long as you make profit everyday from trading and save it as investment too.

[South Park]

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.

But it is not as easy as you make it out to be, trading is incredibly hard and anyone that has tried it before knows it, this is why holding is such an attractive option, if you just keep your coins then over the long term there is a very significant chance that you will have more money than what you invested, and this is even more true if you wait for a dip in order to invest your money, however the story is different if you can actually trade, if you can then it makes sense to do it as the potential for profits is even bigger.

[bryant.coleman]

Holding bitcoin is the only smart thing to do right now. The price might go up or down but in the long run, bitcoin will go higher and higher. Many big corporations investing in bitcoin and govt also looking for opportunity to invest. So I think holding will be beneficial in long term.

That depends on your financial situation. If you are running short on savings, or in case you have utility bills to take care of, then it may not be a good idea to wait for 3-4 years. Because right now Bitcoin is trading close to ATH levels, and we don't know whether the prices will continue to go up or whether there will be an extended phase of correction which can last for more than a year (similar to what we had after the peak prices of 2013 and 2017).

[Abiky]

Holding bitcoin is the only smart thing to do right now. The price might go up or down but in the long run, bitcoin will go higher and higher. Many big corporations investing in bitcoin and govt also looking for opportunity to invest. So I think holding will be beneficial in long term.

Completely agree with you, mate. In times where there's a bull market, the best thing you can do is to "hodl" your Bitcoin and wait for the right time to sell a small portion of it for profit. You'll benefit the most if you "hodl" your Bitcoin in the long term. But not everyone is capable of doing this. Considering that most people need the money to survive, it's quite hard to "hodl" your coins when prices are going all the way to the moon. There's always the temptation to sell your Bitcoin in exchange for cash, to help secure your profit in an uncertain crypto market. If you're can afford to "hodl" your coins for a very long time, you'll be able to achieve true financial freedom.

Nonetheless, you have the choice to either sell or "hodl" your Bitcoin at any given point in time. Right now, prices are going to the moon because of the COVID-19 pandemic. People are more interested in crypto, because of the benefits it provides on top of traditional banks in the mainstream world. The collapse of the mainstream economy, will further drive adoption of Bitcoin and other cryptocurrencies worldwide. Given the current situation we're facing, it's best to "hold on tight" until the pandemic comes to an end. After that, prices may stale or go back to the way they were before the pandemic. Early adopters of Bitcoin will benefit the most as it reaches new ATHs in price. With Bitcoin getting closer towards its ATH of $20k per coin, the reason for "hodling" it becomes stronger each day. Just my thoughts

[ichi]

I have utilized a portion of my property toward the beginning of isolate to begin an online business and to pay in our month to month costs without realizing that the cost of BTC will set to have this siphon. Since BTC cost is too unpredictable we never realize what can occur also in case we're not ready to cover our tabs and have an additional task to support our living. Fortunately, I didn't burn through the entirety of my possessions and at any rate actually get an opportunity to pick up during this BTC siphon. Spending and Holding will rely upon our living status the individuals who have still positions and enough investment funds will sure to just hold and pause.