People will need some time. Noone wants to withdraw their crypto investments first. Many people will wait to withdraw their money until they have to. This might be the case for some this month.
Well.. human psychology works in strange ways. A few months back, Bitcoin exchange rate was above $12,000 per coin. Now it has lost more than 40% of that value. For most of us, it will be very difficult to sell our coins at these prices, since we are constantly being reminded of the past levels. But unfortunately this is what most of the intelligent investors do. If an asset is going down on a constant basis, then they get rid of it.
It's a psychology of the ordinary people, but if we are talking about intelligent people they sell at top and buy again on bottom! People always forget about all other reasons why someone is selling and withdrawing funds from crypto, and there can be a bunch of reasons for that. While some people are buying, others are selling, traders are earning from volatility, it's a game and don't ever forget that. Where is your position in that game depends on you and what you have in specific moment.
Bitcoin is holding good this level, I thought it will drop more due situation around the world, but instead it gained few points! From here anything is possible, while situation in the world is getting worse every day, here in crypto things are different. Be prepared for everything, I have orders on both sides, and we will see what will happen.
.
