Why the hell are people still selling at these prices?

[Lituation]

You can think it's cheap but others think it's expensive. That's how markets work. If everybody think same the price will be either zero or infinite.

[1715083144]

1715083144

[1715083144]

1715083144

[1715083144]

1715083144

[teemus]

people are getting scared and selling incase the price drops even more but in doing that they drop the price more. perfect time to buy some bitcoin

[Habeler876]

Slow downhill is the best thing for trading, since you can sell and rebuy lower, thus increasing your coins. People think it wont get you far, but doing so
and using your whole stake each time increases that profit significantly with time. I still think we are yet to see the bottom of this.

[ArticMine]

Not everyone who is selling bought Bitcoin at say 500 USD, after Apple gave the iSheep permission to buy Bitcoin, in 2014 and are selling in panic now. Some of the iSheep are selling and if that were the only issue then a simple "strong hand" holding strategy will work.

The trouble with the "strong hand" holding strategy in this market is that the long term fundamentals of Bitcoin are very much in doubt. The reality is that Bitcoin needs to fork and allow for bigger blocks, otherwise it is doomed to stagnation and faliure. This has led some of us who were buying Bitcoin in the 2 USD to 10 USD range back in 2011 - 2012 to get out of Bitcoin. I have replaced my Bitcoin holdings with a combination of CAD (Canadian Dollars) and XMR (Monero) that by any objective measure has a higher beta or risk factor than XBT (Bitcoin). So this not about fear in a crypto bear market, it is about repositioning a portfolio during a crypto bear market from one with poor long term fundamentals to one with good long term fundamentals.

If enough of the "old money" in Bitcoin makes a move from Bitcoin to a combination of fiat and one or more alt-coins watch out.

[ArticMine]

Even if it crashes to 100 I wouldn't sell.
The general consensus of the newcomers around here is that they are greedy and ignorant, looking to make a quick buck. I believe in what BTC stands for, and I believe it will ultimately succeed.

... I also believe in what Bitcoin stands for. The question becomes can Bitcoin deliver what it stands for?

[pooya87]

Even if it crashes to 100 I wouldn't sell.
The general consensus of the newcomers around here is that they are greedy and ignorant, looking to make a quick buck. I believe in what BTC stands for, and I believe it will ultimately succeed.

i also believe in bitcoin and what it stands for BUT...
how much money have you invested in bitcoin?
1, 10, 100, 1000, 10,000 USD ?
the problem is , when you invest a large amount of money in something and it starts going down or even worth it crashes down you normally would panic ans start selling to prevent further bigger losses. and if you really believe in bitcoin you would immediately buy back at lower prices if you don't want to lose the opportunity.

[Daniel91]

Very interesting question.
Based on my experience, I can say that people rarely behave rationally when it comes to money.
Instead of rational decision-making, on the basis of intellect and reason, people are usually influenced by their emotions.
This state of mind is hard to explain but it is the effect of the so-called '' herd '' where panic overwhelms reason and all frantically trying to save their money, but actually destroy their financial future.
That's why people like Warren Buffet, who knows how to control his emotions, and always behave rationally, dominate the stock exchange.
In my opinion, now is very good time to buy BTC, not to sell but I'm afraid nobody will listen it.

[Hopalong]

Even if it crashes to 100 I wouldn't sell.
The general consensus of the newcomers around here is that they are greedy and ignorant, looking to make a quick buck. I believe in what BTC stands for, and I believe it will ultimately succeed.

And everyone agree about what bitcoin stands for?

If you take 10 bitcoin users and ask them what bitcoin is and what it stands for you would get atleast 5 different answers...

[Mickeyb]

Not everyone who is selling bought Bitcoin at say 500 USD, after Apple gave the iSheep permission to buy Bitcoin, in 2014 and are selling in panic now. Some of the iSheep are selling and if that were the only issue then a simple "strong hand" holding strategy will work.

The trouble with the "strong hand" holding strategy in this market is that the long term fundamentals of Bitcoin are very much in doubt. The reality is that Bitcoin needs to fork and allow for bigger blocks, otherwise it is doomed to stagnation and faliure. This has led some of us who were buying Bitcoin in the 2 USD to 10 USD range back in 2011 - 2012 to get out of Bitcoin. I have replaced my Bitcoin holdings with a combination of CAD (Canadian Dollars) and XMR (Monero) that by any objective measure has a higher beta or risk factor than XBT (Bitcoin). So this not about fear in a crypto bear market, it is about repositioning a portfolio during a crypto bear market from one with poor long term fundamentals to one with good long term fundamentals.

If enough of the "old money" in Bitcoin makes a move from Bitcoin to a combination of fiat and one or more alt-coins watch out.

I completely get what you are saying but I think Bitcoin will solve current situation and it will get out of this much stronger. People do have a right to feel worried, maybe even for the first time in a while, since the debate is very important and it's concerning Bitcoin fundamentals.

I am not selling yet, since my average entry price is much lower than the current Bitcoin price. But when you invested during higher prices, and you see your investment melting away, you have every right to react, and to panic, and to sell. That's what's happening at the moment, together with other things of course.

[ralle14]

i think they want to dump their coins before it vanishes
or has less more value than now

[freedomno1]

Resolution is one factor, Global markets another
With the discussion over Bitcoin causing some uncertainty and China and other countries going down at present both seem uncertain so it causes a bit of risk devaluation.

[flock123]

may be afraid of falling prices bitcoin to lower prices again, therefore they panicked and quickly sell their bitcoin

[Herbert2020]

it felt like the bitcoin price crash was just the result of panic selling , and since the price is back to $220 and the crash is behind us and didn't persist i say people like me took advantage of the situation and bought back so the price has gone up again.

[MahaRamana]

Even if it crashes to 100 I wouldn't sell.
The general consensus of the newcomers around here is that they are greedy and ignorant, looking to make a quick buck. I believe in what BTC stands for, and I believe it will ultimately succeed.

i also believe in bitcoin and what it stands for BUT...
how much money have you invested in bitcoin?
1, 10, 100, 1000, 10,000 USD ?
the problem is , when you invest a large amount of money in something and it starts going down or even worth it crashes down you normally would panic ans start selling to prevent further bigger losses. and if you really believe in bitcoin you would immediately buy back at lower prices if you don't want to lose the opportunity.

150,000 USD

I lost 50,000 USD if I would sell now.

The key is not to invest more than what you can afford to lose without panicking and let it play itself out.

It will either become worthless or become very valuable.

[Pursuer]

it looks like the panic period is over now since the price is over the $200 barrier and staying there for the time being. who knows what the future hodls

[AtheistAKASaneBrain]

Even if it crashes to 100 I wouldn't sell.
The general consensus of the newcomers around here is that they are greedy and ignorant, looking to make a quick buck. I believe in what BTC stands for, and I believe it will ultimately succeed.

i also believe in bitcoin and what it stands for BUT...
how much money have you invested in bitcoin?
1, 10, 100, 1000, 10,000 USD ?
the problem is , when you invest a large amount of money in something and it starts going down or even worth it crashes down you normally would panic ans start selling to prevent further bigger losses. and if you really believe in bitcoin you would immediately buy back at lower prices if you don't want to lose the opportunity.

150,000 USD

I lost 50,000 USD if I would sell now.

The key is not to invest more than what you can afford to lose without panicking and let it play itself out.

It will either become worthless or become very valuable.

Wow are you rich? how can you risk 150,000 USD in Bitcoin? If you can afford to lose 150,000 USD they you must be a millionaire by now. Care to tell us how you got so much money?

[steven.G999]

Some people sell because some people buy, we call that market. We were in a bearish market for a long time. That doesn't mean we are always in bear market. There are always ups&downs in the market.
I didn't sell when price drops but I bought some coins at sub200$. I knew Bitcoin will be up again.

[BillyBobZorton]

Why they are still selling a these prices? Good question.. Perhaps most of them bought BTC when it was between $800-$1000 and they prefer to sell before it's too late.
IMO, the post-BTC-bubble decline is not completely over. We are still currently well above the pre-bubble prices : ~$100.

For a recovery trend to start happening it's not necessary that the price goes exactly back to pre-price bubbles, it could be 50 or 100 dollars above, 50 or 100 below, the point is, if you are here long term and specially if you bought at the top, would you risk losing a spot on the train to try to get a perfect bottom? if you are here long term you know the only way to make it out of this shithole is by holding all the way up.

[MahaRamana]

Even if it crashes to 100 I wouldn't sell.
The general consensus of the newcomers around here is that they are greedy and ignorant, looking to make a quick buck. I believe in what BTC stands for, and I believe it will ultimately succeed.

i also believe in bitcoin and what it stands for BUT...
how much money have you invested in bitcoin?
1, 10, 100, 1000, 10,000 USD ?
the problem is , when you invest a large amount of money in something and it starts going down or even worth it crashes down you normally would panic ans start selling to prevent further bigger losses. and if you really believe in bitcoin you would immediately buy back at lower prices if you don't want to lose the opportunity.

150,000 USD

I lost 50,000 USD if I would sell now.

The key is not to invest more than what you can afford to lose without panicking and let it play itself out.

It will either become worthless or become very valuable.

Wow are you rich? how can you risk 150,000 USD in Bitcoin? If you can afford to lose 150,000 USD they you must be a millionaire by now. Care to tell us how you got so much money?

Launch a business that is helpful for a lot of people.

[gentlemand]

Maybe they bought during one of this year's flash crashes. In that case a 50% increase is not to be sniffed at. There'll always be people dipping in and out. The whole thing would seize up without them to keep it rolling along.