I've been one of those people, the people that buy at the high points of crypto and then sell low, losing my money and then later on losing out on a good amount of profits which I could've made. I'd like to know some of the reasons that people do this, besides doing it to cut their losses as that one is my reason.
Thanks guys!
Here is why people buy high ans sell low:
1) Panic sellers: Most of the new investors start investing money without doing research about the bitcoins prices. They just read some story about how someone made thousands of dollars in profit with bitcoin investment in few weeks. They think that bitcoins prices will always go up which is not true. Once they invest and the prices start dropping, they panic and thus sell all their holdings.
2) Emergency requirement: Suppose you invest at $15000 and price drops to $10000. Now you know that it will come back to $15000 in some time but have some emergency requirement and thus sell in loss.