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 ?
There are different reason for individual to sell their bitcoin such as:
-Profit taking, maybe they already bought below current price.
-Panic selling, this is common for newbies who dont have experience.
-Form of salary or compensation amd selling whatever price bitcoin hits.
-Selling and buying for other coin or altcoins. Shifting priority.
Therefore selling bitcoin when there’s a price drop does not instantly mean that he’s at loss. With these reasons listed above, I can say that selling could also mean profit taking, and that they have to sell immediately before those profits will be gone. Except for those newbies who aren’t aware on what’s the right thing to do, but the rest of those who’ll sell are certainly because they want to gain profits
, or that they want to add or change investments.