But why the hell people panic sell now after it reach this high amount?
Do people really still think it goes to 0?
There soulnd't be any sale presure given the history that we see Bitcoin only going up in value
1) People don't understand what they're investing in, hence they don't know the real value of bitcoin;
2) They are too impatient and they think they can become very wealthy in a matter of few months.
There is a reason if the safest way is to simply hodl,
you do have sufficient knowledge and experience towards the market. Panic sell is something that do save up yourself on further loss in some times which is good but to think
that recovery is always there then i dont see for it to be a good idea imho.
And probably for panic sellers it's even worse because I'm sure a ton of people who bought BTC back in 2017 at ATH sold losing a lot of money, claiming it was a scam, etc, and look where BTC is now. So panic selling doesn't lead to a single mistake, they're actually two because you lose money selling and you also have a missing profit later.
newbie always think that price always getting higher after they take it. the fact, volatility make you realize about the price, you can feel that you are wrong if that price is low enough.
lack of knowledge and regreting something be the parasite number one. people still complain about everything, when the best choice is learning.