I'm a week into this whole bitcoin thing so be easy on me. I wonder why you would ever sell a BTC ... For example: you buy 100 dollars worth of BTC but the price drops drastically. Why would you sell it when its that low? You KNOW it's going to go up again. You could wait a month (for example), the price will be up again. Or am i totally wrong here?
That's because they panic, and they do not think bitcoin will get up and increase in value, they just think falling bitcoin and keep thinking bitcoin falling, and because of excessive fear they decided to sell cheap.
It's logic that's what we need to do, many people are afraid that bitcoin will drop more and that's why they sell their bitcoin and it's not good at all, they lose money literally, if they wait a few more weeks or a month maximum, they will make a profit.