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
Some bad news about the price of bitcoin can create the situation. Besides, some people have no strong believe in bitcoin. In this purpose, influencer can play vital role.
If someone is in market then surely he is not going to be afraid of these things because after staying here he is understanding all fundamentals and realize it's usual business prices are going to down and up.
Sometime few newbies start selling blindly because they are not able to handle situation and want some quick profit which hurt market and panic selling start due to rumors. Many times we have some good rise in any coin is also problem for many because they feel now it's ATH, and they start selling which also bring dumb, and they feel after dumb they will enter again in market.