While I appreciate the charting, I just don’t understand who is going to be selling their bitcoin for 13k 14k or even 15k… Especially as everyone who expects it to drop this far thinks it will then go to new highs sometime shortly afterwards, therefor who would sell and not just wait for the rise…? You would have to be pretty desperate or misinformed to sell at 15k wouldn’t you. Plus there are so many who would buy at this level, why would it ever drop past it? Maybe I’m missing something, could someone please explain who these sellers are likely to be for bitcoin to reach such lows?
KoosKanmar
⋅
@Badgergrease, When fear sets in people sell. If you haven't experieced it, then it's understandible that it's not in your frame of reference. You might think crypto is different, but it's not. It's about making money, losing money and the pshycology behind that, irrespective of the financial instrument. Markets have in the past, and will always in the future teach lessons. Just give it enough time and you will learn. I've been around the block a few times.
Especially as everyone who expects it to drop this far thinks it will then go to new highs sometime shortly afterwards, therefor who would sell and not just wait for the rise…? You would have to be pretty desperate or misinformed to sell at 15k wouldn’t you. Plus there are so many who would buy at this level, why would it ever drop past it?
Maybe I’m missing something, could someone please explain who these sellers are likely to be for bitcoin to reach such lows?