For any kind of investment you will have people who will have patience, have trust and will hold even if there is a major dip. Others will start panicking when their is a drop and will start selling. I believe I am part of the first group
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Because of panic, they think that if they do not sell, they will lose everything. Emotion is difficult to control. I often advise friends to be calm when investing in Bitcoin. And only invest the money they are willing to lose, then their psychology will be more stable when Bitcoin devalue. And do not sell