Quote from: justdimin on June 01, 2023, 03:30:45 PM

I think that's the point, if the price goes down a lot there are people who do not take advantage of that but instead sell. I never truly understood the mindset, if the logic is to sell before it goes down even more, then just wait for it to go down even more before you do that, you could sell if it keeps going down. I am not saying sell when it's even lower, I am saying just wait until it's lowering, if it goes from 28k to 26k, there is no logic in selling at 26, it's already there, you are already too late.

So instead people should be putting a stop loss order even lower, like 25.5 for example that means you are not too late, because if you sell at 26k then you will not see if it will go down even more or not, but if you put a stop loss at least you guarantee yourself you won't get any worse.

I think that is basically because they are new to bitcoin or they are traders. There are 3-4 different reasons people could sell during a dump that is not panic selling and we need to see that as it is before we judge others. First of all, if you have a long future then it will be cashed out, which sells bitcoin and gets USDT or other stable and that drops a bit more, if too many longs are cashed out like that, the price drops, that's one reason.

Secondly we have traders who end up with selling when it's low but selling when it's high too, they just buy and sell, whenever that fits their situation they will do that, it's not panic selling, they might buy back in a minute too we don't know. Thirdly we have stop loss, people could put an order at a bit lower, and it could automatically sell, it's not panic selling, they put it at a price they think it's fair, and then maybe even rebuy after it goes down some more. So there are a lot of ways people could sell without any panic selling.