Most people sell when they hit that level that makes them whole.

THat guy with 1700 who sold at 0.3 USD made only 500 USD which is is a shame but if you think of those who had $1-10 BTC and it suyddenly hit 500-1000 in 2013. I wouldn't blame them for selling and spending a few millions.

I'm sure those who bought at 5000 are waiting for 50 but when that hit they'll sell as well and new people will come for whom that 50 is going to be the starting point on their way to 100 or more.