$BTC won't go below $30K because the people who are supporting the stock at these levels are up (~85-100%) massively from the the most recent run up to these levels. Are they gonna panic sell at ~85-100% up? No. Makes sense to hold.
Anecdotally, a friend commenting on the recent crash said: "Hahahah I was in so early this doesn't phase me at all." Most people who were in much earlier are actually averaging and scaling up (anecdotally). At this point, it also makes sense for bag holders to just hold until it rebounds. Sure they will sell at the first decent bounce but why realize the loss? Worst case ontario, just use the $BTC dump to reduce taxes owed if it doesn't bounce within a year. Idk... what do you think?
Anecdotally, a friend commenting on the recent crash said: "Hahahah I was in so early this doesn't phase me at all." Most people who were in much earlier are actually averaging and scaling up (anecdotally). At this point, it also makes sense for bag holders to just hold until it rebounds. Sure they will sell at the first decent bounce but why realize the loss? Worst case ontario, just use the $BTC dump to reduce taxes owed if it doesn't bounce within a year. Idk... what do you think?
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The currency* not the stock (it's late).
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Think about this from an opportunity cost perspective. If the buyers supporting BTC at these $30K+ levels are up 85-100%, then what other investment will give them the same return potential if they take their money out?