Why do people sell their Bitcoin due to fear of the current drop in price. Do They feel the price will drop further and never go up again ?
Some people are not ready to hold bitcoin for a long time, some people don’t have the mindset to keep looking their money while the price is falling and their money is reducing although I feel like this people don’t really want to take the risk in bitcoin investment that is why they prefer to sell even at lost because they think the price will not fall back.
I feel before anyone invests on Bitcoin they should get a proper understanding of how the Bitcoin market operates. Because if an individual has good understanding they will know that the rise and fall in price of Bitcoin is normal so there won't be a need to panic rather see it as an opportunity to accumulate as much as possible in anticipation for a rise in price.
Some people you see they re selling is not because they don’t know what the market movement look like, it the fact that they are not ready to invest for a long time, and instead they should wait till the price increase again, they prefer to sell because they are already panicking thinking that it will not climb back which is wrong.
However, many of this investors are newbie investors, obviously any investor who already in the game for a long time now, will know that this is just a normal thinking in the market movement. But newbies always eager to make money from the market, they forget that isn’t a get rich quick scheme.