We saw the past from $10 to 60k is going up and up. So it sure it will reach $500k next destination.
But why the hell people panic sell now after it reach this high amount?
Do people really still think it goes to 0?
There soulnd't be any sale presure given the history that we see Bitcoin only going up in value
The answer is so simple FUD.
Maybe we are all aware that it wouldn't go to zero but those seller are saving what they could when they think that it would continue to drop down.
We all know that it would recover but isn't it better to cut loss then buy back at a lower price than just holding it?
And most of the time, this is also the reason why most of those newcomers losses their investment. Thinking that it wise to sell while the wild market
is on it's downside, the problem is with the volatile nature of this market the quick bounce won't allow you to buy back as you expected.
Fud's and fomos if you don't understand how to use this it will endanger your money, better to learn more to avoid doing panic sell.
It is not a given that Bitcoin bounces back quickly. Look at the current situation, are you sure it will bounce back shortly or are you unsure what will happen next? I don't know and I am not buying now because it is complicated to make a proper assessment.