Convert or HODL? | Bitcointalksearch.org

eR4

jr. member

Activity: 76

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I am convinced that the "HODL" policy was created only for people with steel nerves (or balls) Cheesy

I know a lot of people who held the currency for a long time, but during a panic (for example, November 2018), they sold everything at the very bottom in fear of losing everything.
This tactic is designed exclusively for people who are not afraid to stay with nothing.
I would recommend creating a separate wallet and putting a certain amount of funds on it, which is not a pity to part with, and after a few years you will be guaranteed several times more money.

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: hulla on March 29, 2020, 11:11:06 AM

Quote from: Findingnemo on March 28, 2020, 04:36:16 PM

Quote from: hulla on March 28, 2020, 03:17:36 PM

Quote from: Findingnemo on March 28, 2020, 01:47:07 PM

since cash is king at these situations.Or better just HODL as bitcoin if you don't have any reason to spend it in this lockdown conditions.

Cash/Fiat currency is never a king and if it were Satishi won't have implemented bitcoin. However, USDT and Cash are almost the samething buddy.
Meanwhile, fiat is totally one of the worse option to be use in this present situation which affected the global economic and every market settings. Besides, dollars and others currency are devaluing.

But at the end of the day we are speculating the price of bitcoin not its potential, bitcoin also fell 30 - 40% due to this economic crash that is why cash remains king at this situation but its doesn't mean you should hold fiat cash forever because I know it is the stupidity at its worse.Just buy bitcoins or other assets using the same fiat when the prices hit the bottom by this we can get the benefits from this market crash.

You're right and thats the reason why i mentioned the current situation affected every market setting. Despite, the 30-45% dump in price of bitcoin this current down trend market is the best time to accumulate more coin at cheap rate. Besides, it better to exchange all ones holding into stablecoin rather than selling it for fiat as you said.
With that been said, i believe you dont have much experience as crypto trading is concern and i don't see any point in me explain to you how crypto works in terms of volatility since you have judge the market through the current state but i hope you choose fiat as you claim cause I'm sure you'll wish you're holding stablecoin while you seize the opportunity of the market downtrend in the future.

Every dip would really be an opportunity to accumulate coins while its cheap but this isnt applicable to all because not all people would have the same mindset and feelings into this kind of situation.
For sure there would be the ones who would really be on hesitance to buy up again yet they've been thinking for further dip down of markets rather than considering to have a recovery later on.
Profitability will always depend or vary on how much risk you do put on into your investment decisions.If you can risk out then it will either succeed or not.

hulla

hero member

Activity: 1834

Merit: 566

Quote from: Findingnemo on March 28, 2020, 04:36:16 PM

Quote from: hulla on March 28, 2020, 03:17:36 PM

Quote from: Findingnemo on March 28, 2020, 01:47:07 PM

since cash is king at these situations.Or better just HODL as bitcoin if you don't have any reason to spend it in this lockdown conditions.

Cash/Fiat currency is never a king and if it were Satishi won't have implemented bitcoin. However, USDT and Cash are almost the samething buddy.
Meanwhile, fiat is totally one of the worse option to be use in this present situation which affected the global economic and every market settings. Besides, dollars and others currency are devaluing.

But at the end of the day we are speculating the price of bitcoin not its potential, bitcoin also fell 30 - 40% due to this economic crash that is why cash remains king at this situation but its doesn't mean you should hold fiat cash forever because I know it is the stupidity at its worse.Just buy bitcoins or other assets using the same fiat when the prices hit the bottom by this we can get the benefits from this market crash.

You're right and thats the reason why i mentioned the current situation affected every market setting. Despite, the 30-45% dump in price of bitcoin this current down trend market is the best time to accumulate more coin at cheap rate. Besides, it better to exchange all ones holding into stablecoin rather than selling it for fiat as you said.
With that been said, i believe you dont have much experience as crypto trading is concern and i don't see any point in me explain to you how crypto works in terms of volatility since you have judge the market through the current state but i hope you choose fiat as you claim cause I'm sure you'll wish you're holding stablecoin while you seize the opportunity of the market downtrend in the future.

posi

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Quote from: Ridwan Fauzi on March 28, 2020, 04:03:21 PM

Quote from: posi on March 28, 2020, 03:08:25 PM

Bought at the $6800 price range and thinking of selling now when the price downtrend to $6200 price range is totally unacceptable if there's no emergency case whereby ones need an urgent is not involved.because the capital is already closed for the weekend and the price of the market is expected to experience dump. Besides, the weekend of when the market is facing some kind of crisis are the best time to accumulate more coin.

This is why I always try to suggest all people to not buy bitcoin using money loan. The risk that will be faced is two, first thing you need to pay for the loan and two every step you hold the coin you won't ever be comportable, you just have a burden to pay the loan instead of you have to get profit with using startegy that you have.

I myself have doing it long time ago, I force myself to dare to borrow money form the bank and I bought bitcoin as main place. But, just entery with the worng place because at that time crypto currency is in the bad market. It will be different if we use money that I can afford to lose, I will have a freedom to choose strategy that I want and I never strassed when I found a big crash, just holding it and I'll be fine.

You absolutely right about not investing in crypto currency through loan due to the high volatility in nature of crypto and the high risk involved in trading with the money ones cant afford to loose is the reason why i never supported margin trading but some people were lucky to make it through margin trading because they have the require knowledge and market trend examine.

415jeremy

jr. member

Activity: 45

Merit: 3

Choosing between converting and hodling depends on many factors. And we can't make this decision for you. My own strategy is buying at dips + continuously hodling.

criza

full member

Activity: 574

Merit: 108

This could vary from every people that has Bitcoin. Some can hold and still survive the outbreak but, others can't, people need to eat to survive and continue living. As for me, my parents still takes care for my needs and such so, it would be best for me to still hold most of my stocks and just convert some for loads and other things.

freedomgo

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Playbet.io - Crypto Casino and Sportsbook

Quote from: noormcs5 on March 29, 2020, 12:57:32 AM

Just like many others i am confused whether to hold the bitcoin or convert them in USDT.

You got with your guts, for sure you know how to analyze the current market situation, and also its necessary to know if you are for long term because if you are, you don't need to worry is happening currently, this is bitcoin, this will certain rise again in time.

Quote from: noormcs5 on March 29, 2020, 12:57:32 AM

First the bitcoin price is near the support of 6000$ and all the chances that it will go up from here but in daily time frame, we see bitcoin is forming a death cross. So it may also go down from here. The volume is also low so nothing can be sure at this moment.

Bitcoin might die again this year, but ask yourself, how many times bitcoin died? if you can answer that based on your research, it will make you trust bitcoin and you'll not worry.

noormcs5

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Quote from: Free1bitco.in on March 29, 2020, 12:08:37 AM

Quote from: DevilSlayer on March 28, 2020, 11:21:43 PM

It is really depends on what type of objective that you have, if you are investor then hodl but if you are trader then manage to cut your losses. I converted my bitcoin to usd recently when it dumped, I'm not a investor so for me hodl is not a good strategy. It really depends on what type of person are you, I have a plan right now where I will do swing trade but I still managing my plans as well as my risk and management.

I agree with this. however, it all depends on you. are you a trader, or an investor. if traders, then you need to take advantage of the situation, and this is more directed to convert. whereas if you make the decision to hold altcoin or bitcoin, you are an investor. Well, in this case, I might be called an investor.

Just like many others i am confused whether to hold the bitcoin or convert them in USDT. First the bitcoin price is near the support of 6000$ and all the chances that it will go up from here but in daily time frame, we see bitcoin is forming a death cross. So it may also go down from here. The volume is also low so nothing can be sure at this moment.

Oasisman

hero member

Activity: 2716

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Quote from: Free1bitco.in on March 29, 2020, 12:08:37 AM

Quote from: DevilSlayer on March 28, 2020, 11:21:43 PM

It is really depends on what type of objective that you have, if you are investor then hodl but if you are trader then manage to cut your losses. I converted my bitcoin to usd recently when it dumped, I'm not a investor so for me hodl is not a good strategy. It really depends on what type of person are you, I have a plan right now where I will do swing trade but I still managing my plans as well as my risk and management.

I agree with this. however, it all depends on you. are you a trader, or an investor. if traders, then you need to take advantage of the situation, and this is more directed to convert. whereas if you make the decision to hold altcoin or bitcoin, you are an investor. Well, in this case, I might be called an investor.

Man, hodlers are basically a long term trader, who are just waiting for the Bitcoin price to hit their target before they trade it to fiat again.
There are many kinds of traders , such as day traders, short traders, and the one who buy Bitcoin and hold it until the price goes up, is called a long term trader.
Nevertheless, we are all investing money to cryptocurrency hoping to multiply our capital.

arwin100

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Jack of all trades 💯

Quote from: Free1bitco.in on March 29, 2020, 12:08:37 AM

Quote from: DevilSlayer on March 28, 2020, 11:21:43 PM

It is really depends on what type of objective that you have, if you are investor then hodl but if you are trader then manage to cut your losses. I converted my bitcoin to usd recently when it dumped, I'm not a investor so for me hodl is not a good strategy. It really depends on what type of person are you, I have a plan right now where I will do swing trade but I still managing my plans as well as my risk and management.

I agree with this. however, it all depends on you. are you a trader, or an investor. if traders, then you need to take advantage of the situation, and this is more directed to convert. whereas if you make the decision to hold altcoin or bitcoin, you are an investor. Well, in this case, I might be called an investor.

Yes, all matter on individual decision since if they can take what's happening in the market then converting what you have is the best in the case, but if he is a real trader like what you stated here he should ride with the situation since every movement is great opportunity to earn. We just need to outsmart the manipulator if there is or think smarter if there's a chance.

And the most important thing here is not to panic since if we get affected on some instance then this is the start of losing for our trades.

Free1bitco.in

hero member

Activity: 1624

Merit: 500

Quote from: DevilSlayer on March 28, 2020, 11:21:43 PM

It is really depends on what type of objective that you have, if you are investor then hodl but if you are trader then manage to cut your losses. I converted my bitcoin to usd recently when it dumped, I'm not a investor so for me hodl is not a good strategy. It really depends on what type of person are you, I have a plan right now where I will do swing trade but I still managing my plans as well as my risk and management.

I agree with this. however, it all depends on you. are you a trader, or an investor. if traders, then you need to take advantage of the situation, and this is more directed to convert. whereas if you make the decision to hold altcoin or bitcoin, you are an investor. Well, in this case, I might be called an investor.

DevilSlayer

sr. member

Activity: 1456

Merit: 359

It is really depends on what type of objective that you have, if you are investor then hodl but if you are trader then manage to cut your losses. I converted my bitcoin to usd recently when it dumped, I'm not a investor so for me hodl is not a good strategy. It really depends on what type of person are you, I have a plan right now where I will do swing trade but I still managing my plans as well as my risk and management.

kro55

sr. member

Activity: 1610

Merit: 301

*STOP NOWHERE*

Quote from: ololajulo on March 28, 2020, 04:13:11 PM

Actually it is getting more boring for holders since 2017, this crisis and dump got it worse. Prediction in the market is very bad but I think if wuhan could open today like in the news and no case is seen in the community in the following day/week, confidence could come to the whole world that the pandemic can be controlled if right measures is engaged.

There's a big IF. Looks like some countries just don't give a damn (USA, Sweden, some other) and because of them the epidemic will last longer than it did in China. Big companies will go bankrupt and huge financial crisis will follow. Unless of course they produce vaccine or medication.

Findingnemo

hero member

Activity: 2366

Merit: 793

Bitcoin = Financial freedom

Quote from: hulla on March 28, 2020, 03:17:36 PM

Quote from: Findingnemo on March 28, 2020, 01:47:07 PM

since cash is king at these situations.Or better just HODL as bitcoin if you don't have any reason to spend it in this lockdown conditions.

Cash/Fiat currency is never a king and if it were Satishi won't have implemented bitcoin. However, USDT and Cash are almost the samething buddy.
Meanwhile, fiat is totally one of the worse option to be use in this present situation which affected the global economic and every market settings. Besides, dollars and others currency are devaluing.

But at the end of the day we are speculating the price of bitcoin not its potential, bitcoin also fell 30 - 40% due to this economic crash that is why cash remains king at this situation but its doesn't mean you should hold fiat cash forever because I know it is the stupidity at its worse.Just buy bitcoins or other assets using the same fiat when the prices hit the bottom by this we can get the benefits from this market crash.

ololajulo

sr. member

Activity: 2240

Merit: 270

SOL.BIOKRIPT.COM

Actually it is getting more boring for holders since 2017, this crisis and dump got it worse. Prediction in the market is very bad but I think if wuhan could open today like in the news and no case is seen in the community in the following day/week, confidence could come to the whole world that the pandemic can be controlled if right measures is engaged.

Ridwan Fauzi

full member

Activity: 1330

Merit: 147

Quote from: posi on March 28, 2020, 03:08:25 PM

Bought at the $6800 price range and thinking of selling now when the price downtrend to $6200 price range is totally unacceptable if there's no emergency case whereby ones need an urgent is not involved.because the capital is already closed for the weekend and the price of the market is expected to experience dump. Besides, the weekend of when the market is facing some kind of crisis are the best time to accumulate more coin.

This is why I always try to suggest all people to not buy bitcoin using money loan. The risk that will be faced is two, first thing you need to pay for the loan and two every step you hold the coin you won't ever be comportable, you just have a burden to pay the loan instead of you have to get profit with using startegy that you have.

I myself have doing it long time ago, I force myself to dare to borrow money form the bank and I bought bitcoin as main place. But, just entery with the worng place because at that time crypto currency is in the bad market. It will be different if we use money that I can afford to lose, I will have a freedom to choose strategy that I want and I never strassed when I found a big crash, just holding it and I'll be fine.

hulla

hero member

Activity: 1834

Merit: 566

Quote from: Findingnemo on March 28, 2020, 01:47:07 PM

Converting your cryptos to USDT is highly risky so either convert it into fiat which is not really a bad idea when the whole world is facing recession

Even during the time where the world is not facing recession, USDT is never a better option because it was backed with fiat currency and the better option is to use a stablecoin backed with previous metal which Digital Gold is the perfect example.

Quote from: Findingnemo on March 28, 2020, 01:47:07 PM

since cash is king at these situations.Or better just HODL as bitcoin if you don't have any reason to spend it in this lockdown conditions.

Cash/Fiat currency is never a king and if it were Satishi won't have implemented bitcoin. However, USDT and Cash are almost the samething buddy.
Meanwhile, fiat is totally one of the worse option to be use in this present situation which affected the global economic and every market settings. Besides, dollars and others currency are devaluing.

posi

hero member

Activity: 2268

Merit: 579

Vave.com - Crypto Casino

Quote from: Smitty Werben Man Jensen on March 28, 2020, 11:21:31 AM

Quote from: Salamstar on March 23, 2020, 01:37:27 PM

I fear that if I transfer my balance from bitcoin to digital dollar (USDT), I will not have a new opportunity to buy bitcoin from lower prices because I see that bitcoin is currently fluctuating in a narrow field and then either up or (by a small percentage) to the bottom. I currently prefer to HOLD bitcoin and I'm waiting for a good buy or sell signal.

if you bought it at a low price of $ 3800 then you are right to hold it now, but if you buy it at $ 6800 you will definitely think that selling is better than holding it in, because right now the price of bitcoin is falling by $ 800, make sure your steps are right

Bought at the $6800 price range and thinking of selling now when the price downtrend to $6200 price range is totally unacceptable if there's no emergency case whereby ones need an urgent is not involved.because the capital is already closed for the weekend and the price of the market is expected to experience dump. Besides, the weekend of when the market is facing some kind of crisis are the best time to accumulate more coin.

Findingnemo

hero member

Activity: 2366

Merit: 793

Bitcoin = Financial freedom

Converting your cryptos to USDT is highly risky so either convert it into fiat which is not really a bad idea when the whole world is facing recession since cash is king at these situations.Or better just HODL as bitcoin if you don't have any reason to spend it in this lockdown conditions.

Smitty Werben Man Jensen

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COMBONetwork

Quote from: Salamstar on March 23, 2020, 01:37:27 PM

I fear that if I transfer my balance from bitcoin to digital dollar (USDT), I will not have a new opportunity to buy bitcoin from lower prices because I see that bitcoin is currently fluctuating in a narrow field and then either up or (by a small percentage) to the bottom. I currently prefer to HOLD bitcoin and I'm waiting for a good buy or sell signal.

if you bought it at a low price of $ 3800 then you are right to hold it now, but if you buy it at $ 6800 you will definitely think that selling is better than holding it in, because right now the price of bitcoin is falling by $ 800, make sure your steps are right

Topic: Convert or HODL? (Read 733 times)