What make people panic sell?

[adzino]

We saw the past from $10 to 60k is going up and up. So it sure it will reach $500k next destination.
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

Lets say you invested all of your savings. Thousands of dollar. These are the money that you can't afford to lose. How would you react when you see the market move against your expectation? You are going to panic. You will fear that you will lose all your money and you can't let that happen. Hence you sell it and get out of the risk. You see what's wrong over here? You couldn't afford the loss. Hence you panicked. If you invested spare money and losing those wouldn't affect you, you wouldn't panic. You would hold it even if the price dropped. Now you understand why people sell in panic?

[Hypnosis00]

Worries and temptations...

They are worried about what if the market will dump and miss the opportunity.
They are somewhat tempted by the price and sell while the market is still hot.

Not totally it defines panic selling but it is just the people, investors and holders wanted to take such an opportunity at once it comes into their life. Nobody sees the future and so they'll be taking that chance before it will go.

[Reosta_]

We saw the past from $10 to 60k is going up and up. So it sure it will reach $500k next destination.
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

I think it is not actually "panic-selling" in such situation. Because many people have some price goals to sell all or some of their coins when the price reaches that level. Panic sellers are more like they sell when the price starts going down.

[target]

Worries and temptations...

They are worried about what if the market will dump and miss the opportunity.
They are somewhat tempted by the price and sell while the market is still hot.

Not totally it defines panic selling but it is just the people, investors and holders wanted to take such an opportunity at once it comes into their life. Nobody sees the future and so they'll be taking that chance before it will go.

Worried their BTC will have less value when prices dumped like what we are seeing today, taking profit will be good its an opportunity too when you know which altcoin to invest because we are seeing BTC dominance decreasing and some altcoins are going up. It takes good skills to learn and listen to the news.

Mark Cuban is so bullish on ETH which he had been emphasizing that it's better than BTC. Its turning the table.

[gribalenfeksiyon]

People often panic because of FOMO and excitement. Besides, the biggest cause of panic is not knowing what to do. It becomes panic because of not being able to decide at what level it wants to sell, whether it will rise more as it rises, and because it does not make a conscious investment by setting itself a goal. These also force people to lose.

[Kasabus]

People often panic because of FOMO and excitement. Besides, the biggest cause of panic is not knowing what to do. It becomes panic because of not being able to decide at what level it wants to sell, whether it will rise more as it rises, and because it does not make a conscious investment by setting itself a goal. These also force people to lose.

I believe FOMO is mostly the reason why people do panic selling either they are afraid to lose when the price gets dump suddenly or they are just taking the chances to make profits after long term of holding.

Holding is good but if your aim is to hold your coins forever, you will miss the feeling of being profitable. Remember that your first goal is to make profits and you won't make any profit unless you decide to sell your coins.

[TangentC]

What make people panic sell?

LOL, you answered your own question.  

p a n i c    

[Alucard1]

Some people do panic selling whenever they heard bad news related to bitcoin and someone just sell their bitcoin because of personal reasons, it is not easy to hold bitcoin for a long term and wait for it to reach $500k because there are times that we badly need money to the point that we need to pull out our investment, I am just really amazed to those people who can wait for so many years before they pull out their money, one thing about it is that those people who can invest for a long term are those who have a stable job and a good source of income so they don't need to use their investment for necessary expenses.

[isaac_clarke22]

~

Not that it goes to zero but people starts to think that many would consider that a lot already so that they sell a lot of their held Bitcoin.
Panic selling isn't just when the price goes up, it also happens when price goes down because people think that a minor price correction pertains the death of BTC. lol

[mr_ROBOTT]

$ 500,000?
It is very interesting for me to talk about this price from today. This price that you mentioned may not reach it in the next 10 years.
Many people talk about bitcoin becoming zero, and many people talk about $ 1,000,000 bitcoin, and these are just a theory, not an analysis.
If governments or the advent of quantum computers are to affect bitcoin, they may even be able to destroy bitcoin.
And to the contrary, if governments and all the big companies trade in bitcoin, yes, we can see $ 100,000 or $ 200,000 in bitcoin.

[sapnu]

We saw the past from $10 to 60k is going up and up. So it sure it will reach $500k next destination.
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

Seeing bitcoin reaching $500k is so far from happening no matter how bullish it is right now. People panic sell because they are afraid that the same thing will happen once again just like what occured at the 2018 dump. Sometimes, they also panic sell because they have a certain target price and if they see it going down more continuously and is quite threatening already, they will sell their holdings in hopes of saving their money. It quite make sense that people shouldn't sell because bitcoin is on its way up no matter how many dumps occurs but still, people are trying to outsmart the process that's why.

[dongyi17]

I think the reason why they sell their Bitcoin is because of statement of Elon Musk-purchasing Bitcoin is suspending. That's why Bitcoin now drop 49-50K$, and many people sell their token specially BTC. Hopefully BTC continue will rise again.

[iphone5s]

I think the reason why they sell their Bitcoin is because of statement of Elon Musk-purchasing Bitcoin is suspending. That's why Bitcoin now drop 49-50K$, and many people sell their token specially BTC. Hopefully BTC continue will rise again.

Do you believe what Elon Musk said? or maybe you have sold the Bitcoin that you bought so you don't panic with all of this. it's too easy to see Bitcoin going down so badly. I'm still confident that Bitcoin will go back up with a fast time now. But it may be your choice to believe what is preached. I prefer to see the decline that occurs because I can buy Bitcoin again at a cheaper price than before.

[acener]

We saw the past from $10 to 60k is going up and up. So it sure it will reach $500k next destination.
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

The answer is so simple FUD.
Maybe we are all aware that it wouldn't go to zero but those seller are saving what they could when they think that it would continue to drop down.
We all know that it would recover but isn't it better to cut loss then buy back at a lower price than just holding it?

[mrjoy15]

I think the reason why they sell their Bitcoin is because of statement of Elon Musk-purchasing Bitcoin is suspending. That's why Bitcoin now drop 49-50K$, and many people sell their token specially BTC. Hopefully BTC continue will rise again.

It's pretty damn obvious Elon Musk is trying to manipulate with BTC price. Bitcoin was just fine without him before, this time we also survive. Elon needs to stop with the FUD cause he is clearly using this as opportunity to buy BTC that's all. Hopefully BTC doesn't need Elon to make it pump. The whole market is down atm, don't stress.

[Alert31]

We saw the past from $10 to 60k is going up and up. So it sure it will reach $500k next destination.
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

Everyone who invested in bitcoin has their own reason why they invest and when they will withdraw it. If they sell it maybe they already reach their target market value. Others, they panic selling because they are newbie in crypto and they are afraid of lose. Others panic sell because they really need it badly or urgent. Bitcoin is too valuable now and I believe that it will reach another ATH in the future but we can't stop to dump a little because bitcoin is volatile and depends on the demand but up and down in the market is just normal.

[carlisle1]

We saw the past from $10 to 60k is going up and up. So it sure it will reach $500k next destination.
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

The answer is so simple FUD.
Maybe we are all aware that it wouldn't go to zero but those seller are saving what they could when they think that it would continue to drop down.
We all know that it would recover but isn't it better to cut loss then buy back at a lower price than just holding it?

And most of the time, this is also the reason why most of those newcomers losses their investment. Thinking that it wise to sell while the wild market
is on it's downside, the problem is with the volatile nature of this market the quick bounce won't allow you to buy back as you expected.

Fud's  and fomos if you don't understand how to use this it will endanger your money, better to learn more to avoid doing panic sell.

[pinggoki]

Everyone of us has the price limits in which where they will cut their loss or cut their profits. If they attain their target profit then they will stop in which they will be able to sell their holdings. I am not saying that all of the people are like this but there are some people including me who is practical and not greedy in which if I feel that I am already has the right profit I will stop it and sell it immediately. I am not saying that it is panic selling, but the concept is kind of like that.

[BlackHatCoiner]

But why the hell people panic sell now after it reach this high amount?

Because they think that others will sell. We, people, behave analogously with others' opinions. For example, if Elon Musk announces that he'll accept Bitcoin as a payment method, the price won't pump due to the fact that there'll be people who will buy cars for BTC. Far from that! It'll pump, because people will believe that it should pump. Because, they'll consider that there will be people that will consider same like.

We are tribal species and we are genetically programmed to follow the dictates of the tribe and the tribe leader. You'll have to break your DNA chain to succeed on this market. It's a “privilege” of homo sapien.

This is why there are panic sales.

[quocsi]

Everyone has its aim price especially those who trade regularly, there's someone who will sell no matter what's the situation is. For those who panic sell, sometimes its related to the current news, on what we can see on twitter, socmed and frauds. But I see no reason why would someone will think btc price will go to zero, not unless of you're craig.

You are right, everyone sets a certain goal for themselves. When Bitcoin goes up, some people who feel profitable will sell anytime they want. There are also some panicking, who think bitcoin could drop at any moment. This is possible because the whole world is going through the covid19 pandemic that has caused a severe economic crisis. Bitcoin may be affected. Their worries are well-founded. I myself do not know what the future holds, hope everything will be better.