Hold and forget for a while the current status of the market. In this way you wont be tempted to convert or sell your bitcoin. The crypto works that way even before and managed to recover in even much high price. So be used to it and have patience to bear the situation because it wont last long.
Nevertheless the decision is still up to you so think whats best.
Topic: Convert or HODL? - page 5. (Read 733 times)
Don't hesitate to hold bitcoin, because if you panic and convert to USDT and have bought when the price is below certain when the price of bitcoin rises you will regret, bitcoin has gone through a long bear market phase and I think holding is the right choice. Keep track of bitcoin price movements.
After recent dump is it still safe to hodl on to our existing bitcoin or convert it to USDT? I have just converted my bitcoin into USDT and I will be monitoring the market closely with multiple reminders to buy back when the value starts increasing so that I don't use my existing balance and eventually buyback more than I have right now? How many of you agree with my idea? Kindly share your suggestions.
Yes I can say that it is still safe to hodl your coins and tokens until the market recovers especially right now that the bitcoin and the market is suddenly go down and it continuously dumping right now and it is kind of sad part because we are not ready on the sudden dump of this market. But I can assure that it is safe to just hold our tokens in order to not suffer heavy losses when we convert right after the coins or tokens that we are holding. 
After recent dump is it still safe to hodl on to our existing bitcoin or convert it to USDT? I have just converted my bitcoin into USDT and I will be monitoring the market closely with multiple reminders to buy back when the value starts increasing so that I don't use my existing balance and eventually buyback more than I have right now? How many of you agree with my idea? Kindly share your suggestions.
I will look at this from two angles, firstly for those who have tethered, finding the new entry point is very important so as not to loose your position. As it stands I would suggest entering back into the market at different positions, this means it will be better to split your USDT into fractions and buy back in at different positions, as the price reversal might set in anytime. Secondly, for those who did not tether and where caught in the deep, there is no need to sell off now in my own opinion as the reverse trend might kick start any moment from now. Converting to USDT now might get you into a big loss. Just my opinion, decide wisely. After recent dump is it still safe to hodl on to our existing bitcoin or convert it to USDT? I have just converted my bitcoin into USDT and I will be monitoring the market closely with multiple reminders to buy back when the value starts increasing so that I don't use my existing balance and eventually buyback more than I have right now? How many of you agree with my idea? Kindly share your suggestions.
I think the recent dump is actually a situation for panic and desperate need for money.
The corona outbreak forced the need to spend urgently for some people, while some fudded into dumping their assets.
There is nothing wrong when you convert to USDT, Because once btc dumps, you can buy back low and have even more satoshis.
Always dyor. and stay in profit.
I hold my Bitcoin for the firm reason that every time I can I should buy more. Also to manage my daily needs, what I do is convert my altcoins into USDT. It is the best way that works for me to hold my Bitcoin. I think everyone has their best strategy to keep their currencies, especially BTCitcoin
I'm always a long term holder. Came this far and did not ever think of converting it into usdt. Before, i also panicked converting my btc immediately when dumps happened but I realized if we are a long term holder, we tend to wait further calmly waiting for the big pump.
The recent drop on the market make traders go panic, haven't we seen massive drop before? We should already know what to do now, better to hold.
The recent drop on the market make traders go panic, haven't we seen massive drop before? We should already know what to do now, better to hold.
In this tough market situation it's better to hold rather than selling in hurry, after this major drop panic sell has been extreme. Also buying BTC at this moment will be a great decision because you can sell them when it's price increases, BTC curve shows it the price may go down and anything can happen so just hold and wait for your turn.
Convert or Hold is your personal choice.
I don't think holding it will be a problem if you already have a target price you want to achieve, the most important is the money you use, not the money you need at any time. Hold a few bitcoins and convert a few in USDT to make a backup.
Reserves are used to make buybacks at lower prices so that you will have more BTC at lower prices.
Hold and set targets, do not become weak hands by doing Cutloss, train your mentality, so that the target can be achieved.
I don't think holding it will be a problem if you already have a target price you want to achieve, the most important is the money you use, not the money you need at any time. Hold a few bitcoins and convert a few in USDT to make a backup.
Reserves are used to make buybacks at lower prices so that you will have more BTC at lower prices.
Hold and set targets, do not become weak hands by doing Cutloss, train your mentality, so that the target can be achieved.
The markets always went against my trades. I have no idea why the hell that happens, I may be extremely unlucky. Now I'd rather not trade at all than try my luck, because a simple paper calculus shows how much of a profit I could've made doing nothing and just letting my money sit in BTC..
After recent dump is it still safe to hodl on to our existing bitcoin or convert it to USDT?
first of all if you want to convert bitcoin to anything it must always be to fiat and not a centralized altcoin. specially not something as shady and risky as tether!
secondly whenever you see a big drop and want to think about selling you must do it in early minutes or hours of the drop and not 3 days after the drop started and price went down already. right now you have no way of knowing whether there is any more drops or not because there is no reason for it and there has already been a 30% drop which you missed. selling now is taking a huge risk.
I think, because the price of Bitcoin is below $ 8k, it's better to hodl it than to exchange it with stable coins like USDT, but if you dare to speculate it can sell / exchange at current prices, and wait until tomorrow or a few days later until the price of Bitcoin goes back below $ 7500 , you can buy or exchange it again.
Price currently shows a downtrend towards 7k though. If you had fiat to hold this would be a good time to buy based on indicators showing "oversold". Don't know about holding stable coins though, while bear market is going on.Converting is needed if you want to keep the cash flow going. If you hodl stubbornly then it is your loss only. Recycle the money at the proper points and then use those lots to keep the trading going.
Dude, why would you convert? this is probably a good price to buy more then wait until we reach $10,000 again. Why would you think that we wouldn't reach that price again when it was proven that Bitcoin could do it. The only reason why we are being held at around $9,000-$10,000 was because of the plustoken scam that is selling his Bitcoin since august. Just a few days ago, they already sold their most Bitcoin and with that, I'm sure the recovery will happen. Just hold and you won't lost anything.
If you are still deciding to do so, just relax for a bit and stay away from crypto and you'll be surprised and glad that you didn't panic sell.
If you are still deciding to do so, just relax for a bit and stay away from crypto and you'll be surprised and glad that you didn't panic sell.
HODL if you want your coins not to lose even a satoshi. Convert if you think you can get more from your current balance right now. As what @kingcolex just said if you convert it then an unexpected spike comes you'll probably lose more sats. Both are not a bad thing to do but if you can take the risks then at least try it but always remember "always risks what you can afford to lose".
I think, because the price of Bitcoin is below $ 8k, it's better to hodl it than to exchange it with stable coins like USDT, but if you dare to speculate it can sell / exchange at current prices, and wait until tomorrow or a few days later until the price of Bitcoin goes back below $ 7500 , you can buy or exchange it again.
It would all depends on you if you think that BTC would continue to fall then convert and buy back at a low price.
But if you think that it would start to go up soon then why would you even convert?
And if you couldn't decide or doesn't know what to do then I suggest to just hold your BTC instead of converting it.
But if you think that it would start to go up soon then why would you even convert?
And if you couldn't decide or doesn't know what to do then I suggest to just hold your BTC instead of converting it.
I'm staying well away from the market right now. It's too uncertain.
I recommend placing some buy orders above strong resistance zones, e.g. $10,000, $13,000 etc.
No point playing around in the market right now unless you're scalping or arbing. It's just asking to get rekt.
I recommend placing some buy orders above strong resistance zones, e.g. $10,000, $13,000 etc.
No point playing around in the market right now unless you're scalping or arbing. It's just asking to get rekt.
After recent dump is it still safe to hodl on to our existing bitcoin or convert it to USDT? I have just converted my bitcoin into USDT and I will be monitoring the market closely with multiple reminders to buy back when the value starts increasing so that I don't use my existing balance and eventually buyback more than I have right now? How many of you agree with my idea? Kindly share your suggestions.
Are you saying that you think it could go lower? What's your chart for that? I wouldn't sell anymore. I think we are in the major resistance level.
The answer depends a lot on each one context. If you need the money and need it quickly, but you don't have any money left, then holding would be terrible. On the other hand, recklessly selling the coins you just accumulate since a week ago is also a terrible move.
Ask a financial expert or better outline your financial life first before asking here. I bet you won't find answer here as most of them are just common sense.
Ask a financial expert or better outline your financial life first before asking here. I bet you won't find answer here as most of them are just common sense.
Totally agree! It depends on your current financial situation. If you have dire need of selling it because you need to pay your bills and food, and you still are holding, I don't think that's a good choice. Are you going to borrow money but you have crypto on hand? It's your choice! People here have different situations, so they will answer according to what they think is right but not really applicable to all.
This is the time for those people who telling before when Bitcoin pumps above $12,000 - "I'll buy at $9,000". So when Bitcoin visits again $9,000 and below, here are they afraid and feeling so down.
For what I experienced in this recent dump, I still don't sell my Bitcoins and still accumulating more. I understand the situation right now, it's not only in Bitcoin, but in almost markets worldwide, accumulation time.
For what I experienced in this recent dump, I still don't sell my Bitcoins and still accumulating more. I understand the situation right now, it's not only in Bitcoin, but in almost markets worldwide, accumulation time.
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