I think it's mostly fear. People don't want to sell but they are afraid of losing value and each time Bitcoin closes to the point where they bought thay sell to save themselves. The only thing that is holding Bitcoin above 6000 is the ETF decision. People are greedy and fearful at the same time and now greed is fired up y that small spark of ETF and the rest is fear.
When the price is at the point wherein I bought it, I would not immediately sell it but I would set a percentage loss and when that price is reach I would just sell it and wait for the time when the price is looking good for buying when the volume is building up and it seems like price is consolidating. Many manipulators sometimes sell off their coins so that stop losses will be triggered and they can buy more coins.
For experienced trader and investors we no longer fell for this fake news , we can identify FUD easily . the problem here is the new comers to this filed once they see bad news all over the internet they freak out and get away with their money which what caused the lack of liquidity in the market nowaday.
we can't stop FUD but we can use it in our favor!
we can't stop FUD but we can use it in our favor!
Those who are used to FUD would take this opportunity to buy coins at a low price while those who are new to the market would panic sell. They would eventually learn their lesson the next time there is a FUD and time will come when traders would mature and FUD would not be that effective anymore. The ones selling then are those who wanted to buy lower that's why they are selling even if they are at a loss.