In desperate condition, i will try my best to get loan from my friends. If it becomes impossible, then i would try to sell my bitcoins but with half heart.
If you were in desperate need of money and you have bitcoin,then it means you have the money because bitcoin is also a money.So i will sell my bitcoins to recieve the cash instead of borrowing money because if i already have it i form of bitcoin,then there is no need to borrow.