Why hodlers can start selling bitcoins

Why hodlers can start selling bitcoins

How to Sell Bitcoin for Beginners

Contents

Why hodlers can start selling bitcoins
CONTENT

  • The need for cash can crowd out the desire to “walk” bitcoin.

  • Covid-19 crisis has negatively affected many people’s access to liquidity.

  • Covid-19 crisis has negatively affected many people’s access to liquidity.

International consortium of news organizations, developing standards for transparency.

Covid-19 pandemic economic crisis could force a number of bitcoin hodlers to start selling their coins in pursuit of cash.

The deadly Covid-19 coronavirus has already dealt a devastating blow to various countries, and in the future its consequences for the global economy could be even more painful. Analysts are predicting a recession en masse. As a result of widespread quarantines, the unemployment rate is skyrocketing in both Europe and the United States..

It is clear that the current situation will have the most dire consequences for ordinary citizens around the world. According to David Hochstein, an entrepreneur and Republican nominee for the US House of Representatives, the current liquidity crisis could force current bitcoin holders (BTC) to start cashing out their coins..

Why hodlers can start selling bitcoins

IMHO, we’ll soon see people selling off #bitcoin to put some fiat in their pockets.

– David Gokhshtein (@davidgokhshtein) March 31, 2020

“In my humble opinion, soon we will see how people will sell bitcoins in order to fill their pockets with at least some fiat cash,” he suggested..

When despair overshadows hope

Bitcoin has long attracted investors as a store of value due to its steady upward trajectory over time. As a result, a huge army of “Hodlers” appeared, trying to park and increase their savings in this crypto asset.

Although bitcoin originally emerged as a response to the 2008 financial crisis, it must be admitted that it has yet to be field-tested as an effective alternative tool to overcome the new crisis..

It is possible that everything will turn out to be completely different from what crypto enthusiasts dreamed of. Widespread panic in the markets could drive bitcoin investors to the stage of despair, in which expectations of future profits will give way to an urgent and urgent need for traditional cash..

In addition, in the process of its formation, bitcoin moved away from the original idea of ​​becoming an independent financial system and world currency. Instead of a means of making day-to-day payments, it has become more of an investment and store of value. This also means that in times of financial crises, it may not offer an alternative to fiat, but the possibility of acquiring it..

Why hodlers can start selling bitcoins

Someone loses, someone picks up

However, any medal always has a downside. Despite the hard times on the crypto market this year, many Bitcoin hodlers continue to believe in a bright future for the coin..

The same Gokhshtein, in the subsequent exchange of comments with his readers, emphasized that all the coins that go for sale will have their own buyers, with their own intentions and life circumstances..

I just believe people will sell and others will pick it up.

– David Gokhshtein (@davidgokhshtein) March 31, 2020

This assumption is also not without grounds, especially if we take into account the current policies of world governments and central banks, which are carrying out an unprecedented injection of liquidity into the traditional financial system, monstrously inflating the volume of money supply and debt indicators. Perhaps, against this background, anti-inflationary bitcoin will be able to maintain its attractiveness for investors..

Why hodlers can start selling bitcoins

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