Quote from: 19Nov16 on Today at 02:11:48 PM

A lot of people want to see a $1 million price, unfortunately a lot of people don't want to buy when the market is as good as it is today, they will regret it when the $1 million price occurs and think they want to buy when the price is cheap, just like it did when the price was $60k or more people want to buy when the price is cheap, the opportunity is still there and don't waste time just hoping without wanting to buy.

That's right, many investors are driven and driven drastically by their emotions and perceptions of the market... I was able to evidence this currently when the price of Bitcoin fell to 26k, friends of mine who are investors had a part invested in Bitcoin and they didn't mind losing a part part and sell it for fear that it will go even lower.. The phenomenon you mention, where people wait for the price of an asset to reach an extremely high value before buying it, is known as "FOMO", abbreviated (Fear Of Missing Out), or fear of missing out. In the case of Bitcoin, this dynamic has been evident at various points in its history, when the price is rising and reaching significant levels, many investors may feel that they are missing an opportunity and try to enter the market despite the higher prices..