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
People panic sell because of fear, following negative news trends, people's ideas about the market ignoring the pattern, believing in the idea of jumping out on the safe side, forgetting that the price is set for new highs. This affected me at the initial stage when the price of Bitcoin fell to the lows of $6k from the highs of $19k+ in 2017 - 2018, this was very scary because it was something new and gaining popularity. After this situation, I came to understand the price movement a little bit. When there comes new ATHs, what we expect next a price correction, then a new move.
The pressure has reduced as the pattern is becoming more visible to everybody in the system. Panic selling is now a means of losing your assets and letting it for those who wish for more. The investors and supporters now in the system and more planing to come in, in the nearest future will help in the balancing the price of Bitcoin, where the deep will not be as bad as we have seen before now.