Firstly, I think its fair to start at the beginning - "bitcoin millionaires will crash bitcoin to $400" - Will they? I don't think so. Not only because your stating that like a fact but because wouldn't that have already happened by now? Your suggestion that they would get off at any point above 1K is undermined by the fact that it rose from 1k at a steady rate for a decent part of last year, and yet they didn't offload. Maybe you say that is because there was a bull market and long term trend forming, sure so they would've dumped at any sign of that trend breaking them? Hmm that didnt happen either. Leading up to the BCash fork the trend was broken pretty sharply and yet prices didn't plummet down to $400 with the early adopters offloading. Run up to 20k massive correction to remove euphoria money etc etc blah blah we arrive at 8k and have traded reasonably sideways for a while giving plenty of opportunity to jump ship.
I would hazard a guess and say that the people that are jumping ship are the new money not the old. Early adopters have nothing really to lose by gambling on the potential of bitcoin which they saw down at $50, $100 or $1000, they've had their amazing returns and if they are only in it for the gains then they are easily winners at well below current levels. Early adopters are also likely the ones that believe in the use case of bitcoin as a friction-less payment system or friction-less store of value, which is an amazing proposition.
TLDR: I wholeheartedly disagree with your proposition.
Topic: Bitcoin millioniares will crash Bitcoin to $400 - page 3. (Read 524 times)
People who brought Bitcoin at $50 or $100 or $400, they will sell at $1,000 or $5,000 or $10,000 to be a millionaire. If they do not sell Bitcoin and bitcoin goes back to $2,000 or $1,000, they will lose their millions ($$$$$)
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