People are holding bitcoin as there is certainly a future to it. Why would you hold any other investments such as bonds, gold, or stocks? Because you believe in them. Believe that the value will go higher and so will the margin of profit. Bitcoin is built entirely upon this network of user trust. Ergo, the more people believe in it - the more will hold into it and the more the value will go up. We have seen bitcoins value dip a bit here and there, but it has always ended up at a much higher value a few weeks, maybe months later. That is the main point of holding and that is why more and more people hold on to it.
Now its just this August 1 'crisis' stands in the way of many in terms of their willingness to hold onto their precious coins. I still see no real reason to sell.... Sure, you can get scared but you do need to think logically about this whole situation.
... the price fall is more than the rise
WRONG.
you need to look at the bigger picture.
right now you are just looking at a short period of time where bitcoin price has came down a little. if you look at a couple of months you can see a rise from ~$880 to $2900 and right now it is sitting between $2200-$2400.
even if it falls more it will still be much much higher than the couple of months ago.
with that said, did you get your answer to why people hold bitcoin
Agreed! 👍