I know some coworkers that sold BTC today, they are real casuals, they got into BTC because they heard it went up a lot, they don't know even to set a local wallet so they store their coins on Coinbase or wherever the fuck they buy at.
Well, they sold today at at the dip near the $4000 double bottom.
The irony is, these casuals are the ones that are always complaining about how it's unfair that BTC is distributed in the hands of few whales, YET, they are the ones that constantly panicsell and give their cheap BTC back to these same hands they are complaining about, because guess who is profiting the most on these dumps: whales. They buy lots of cheap BTC.
If you want whales to stop having so much BTC, don't panic sell or you will keep feeding them. Just focus on your own portfolio and keep stacking BTC on the dips. In the long term, we will win.
Well its not always easy. There are people living in countries where it is very hard just like in my country and they have to work very hard to get money for them to invest in Bitcoin. So these kind of people are always being very careful about their money and dont want lose it in Bitcoin, and they tend to withdraw their money whenever the price of Bitcoin is showing any signs of going down. Youve got to be very careful.