Quote from: Upgrade00 on Today at 03:32:30 PM

Quote from: BitLimiter on Today at 03:31:56 PM

in my opinion, the psychological sell is at 20k, this is just my theory, because in 2017 people bought around ATH

Waiting about 3 years just to sell as soon as you break even? Anyone who bought at the peak back in 2017 and has held till now has probably done a lot of research about Bitcoin and its fundamentals and believed it could bounce back and surpass its ATH, they could have even added more to their stash during the long hodl phase. I would expect they would hold a bit more to get some profits.

Correct. People who bought at the peak of the last bull market are long done with their bags.

It's possible some held at 10000 but when it broke down you'd have to be AFK to hold with 80% loss for more than a year.

On the other hand someone did not care about an 80% loss he won't care about breaking even especially knowing that Bitcoin has a history of overshooting targets. People who sold when we broke the 1000 top for the second time lost an opportunity to earn 3x that just a few weeks later.