Post
Topic
Board Bitcoin Discussion
Re: What make people panic sell?
by
pixie85
on 13/05/2021, 20:03:49 UTC
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.

Here's where fundamentals come into play.

I've been here for some time. Maybe not as long as people who bought in 2012 or 2013, but long enough to see a couple repeating things on the charts.

If the fall is right after a peak and the price corrects this means we were overextended. This means a healthy correction. People are selling to take profit.

If the fall comes after news unrelated directly to BTC like a ban somewhere, an exchange hack, someone saying something bad about bitcoin, it's going to be a weak hand shakedown and a panic sellout.
If you see this, make sure to buy more because it will come back as fast as it fell.
There were many such crashes like when the US closed borders in 2020.