What matters are the long term winners. Sure, the dotcom bubble popped... but the long term winners are the ones that really made Billionaires. Ask anyone that held their Amazon stock through the crash until today, and Bitcoin IS the long term winner.
Long term winners (holders) don't sell at all, even not if it can make them a decent bit of profit in the shorter term. If we talk about the very early birds here in this market, then it's safe to say that there at least are a handful of billionaires that are more or less known. Those that are known and unknown will continue to see their wealth increase, and that still without having sold anything. In terms of the Winklevoss twins it's known that they haven't sold anything yet, which stimulates me to do the same. You know what the best part is? It's the fact that if you believe that Bitcoin has the potential to reach $100k at some point, and I definitely believe in this, it makes absolutely no sense to sell anything at current levels. The Winklevoss twins even talk about $300k, which says enough....
What does this say of what will happen when large well known investors like the Winklevoss twins eventually decide to sell? Could we not see a situation where that causes panic in the market as people have an attitude along the lines of 'is there something they know that we don't'?
There surely comes a time for the majority of investors where they will be willing to sell. That amount will differ from individual to individual but I feel that eventually weighing up the benefits of holding a while longer and maybe gaining a few more thousands or millions will be outweighed by the benefits that the thousands or millions you could have would be able to provide.
Please tell me if your personal opinion is different to that, I just find it very hard to believe that for an every day person there's not a price at which they'd be willing to sell out.
