Yup, knew people who quit in 2020. Seemed inexplicable to me, seeing as they'd held in the previous cycles and while I never lived through them, I felt they were far more devastating, given how young markets were.
Can't imagine anyone letting go since the 16k low though, Bitcoin's hardly threatened 30% from ATH, let alone those years of -85% floors.
Can't imagine anyone letting go since the 16k low though, Bitcoin's hardly threatened 30% from ATH, let alone those years of -85% floors.
It depends, I had a talk with someone who has been holding coins since 2012, selling a few now and then, and when I was curious why he said he doesn't feel that he will keep most of it in the next few years told me simply:
"I bought some of those coins for $10, I could have sold at 69k in 2021 or I could have sold at 72k in 2024", and I do understand the guy after making 6000x on something you kind of stop caring if it will make you double the money in another 4 years. Even if he had dumped everything at 20k, he would still have made 2000x, which is a return nobody buying now will see anymore.
Also the psychological factor, everyone was safely holding $100-$1000, and most wouldn't have cared if it turned to zero, now if you actually have a few million, you start thinking otherwise, even a 50% is still a loss equal to life without worries.
