How much drop in Bitcoin price in 24 hours is enough to convert into weak hands ? We all have some trigger point ? Even if you are a firm believer in crypto, it can be hard to remain invested if there is major correction in price over very short period of time .
If it drops more than 50% in just 24 hours, I think that's something that can trigger my faith in bitcoin. But I know that's quite impossible for bitcoin since even if it drops, it will recover quickly then so we don't need to fall as weak hands in the process, we just have to stay patient all the time.
A 50% drop in 24 hours is a huge drop for an asset with a significant market cap like bitcoin and if this happens these days, it means something very bad has happened. I don't believe people could keep calm in that situation and a serious sell-off was inevitable. Of course there are still people who don't sell, but they certainly won't dare to buy the dip at that time.
Many people make very strong statements that they will not sell, will buy the dip...but there is a big gap between saying and doing. Especially for those who invest large amounts of money, panic is inevitable if bitcoin suddenly corrects 30-50% in a short period of time.
What probability you see for situation like this in next 2-3 years ? What type of events can trigger such a thing for example ?