I wonder how many people will never touch BTC again after this. Is this going to be one of those things like the great depression where it is ingrained in the population living it at the time. How many people who sold out from the 2017 crash ended up buying again for this cycle? Would be interesting to know.
If their are whales doing this selling in an effort to accrue more coins or something stupid, there is a good chance that they may kill sentiment for a very long time. Even if the Fed goes bananas with the printing press again.
I hope you are right. I have not sold any BTC during this run up or decline but I did sell a bunch a long time ago at 4k to start a small business. Business worked out fine and creates a nice independent income stream for me but I sure wish I started it with debt and not BTC.
I would love for a long multi year period with BTC at 10k so I could slowly buy back the BTC I sold. I don't invest in altcoins but Bitcoin was about 85% of my net worth at its 65k peak. That percentage is obviously a lot less now of course but other then the my horrible sale timing at 4k years ago I have pretty much ignored this recent market action. I guess it depends on ones timeline and confidence. I am confident in bitcoins long term prospects. The short term market changes are thus only distracting noise.
One thing that helps me keep a clear head is to assign a purpose to the BTC I own instead of looking at it as a total sum. The BTC I have right now is all earmarked for stuff either as future gifts for my children (I have a few kids), for my wife as a life insurance in case something happens to me (saves money on life insurance), or earmarked for grandchildren who don't exist yet using a guestimate on how many of them may eventually exist someday.
I actually don't have any earmarked for my savings or retirement yet. Sold those back at 4k for the business. I need to eventually fix that and buy some BTC for me. I was not planning on doing that this year as was going to expand the business but if BTC drops to 10k I will put the expansion plans on hold and start buying BTC.
I would guess that we are going lower from here. However, if we do the storm shall eventually pass. The draining of fiat liquidity by the central banks cannot be sustained forever.