Also depends on how many you bought. If you bought 5 coins from $600, you can wait till it hits $50k. That's a sensible move.

What if you bought 100coins from $600? You would be carrying x20 more risk now. And if it looks like it is going to go down in the upcoming weeks, (tbh it looks like it) it just makes sense to unload your risk.

I am not talking about long term. I too bought some from $1k 2k and $3k. Also bought from $8k, 12k and 15k.  Didn't sell at $20k won't sell till I acquire my target networth. To accomplish this, I expect the price to be between $50-100k. That's a different scenario.

There are people who aren't long term hodlers but only interested in short term speculation. That's why btc does these crazy swings.

I can tolerate my $50k to go as low as $10k. No biggie. But I wouldn't so cool about it If my networth screen was showing $500k and about to be $200k in a few days.