[fasicle]

Others who are happy with the gains they have made, and think it's too risky to keep holding. I've got a friend who sold his bitcoin recently to buy a house.

Unlike companies which have revenue as a marker, the bitcoin price seems very speculative, and if you think others might sell at 40k, you might do the same.

[nickjj]

> Others who are happy with the gains they have made, and think it's too risky to keep holding. I've got a friend who sold his bitcoin recently to buy a house.

Yeah I'm not surprised about moves like this. 35k+ is when things start to get interesting.

A few years ago I grabbed one at $1,200 and then sold it like 6 months later for around $1,800 because I was like "cool a 50% gain".

If I had held onto it, selling at 35-40k seems reasonable because even after 15% capital gains tax that's enough to live comfortably in the US for an entire year. That's a life changing amount of money.

[brightball]

That's the other factor. At what point do you decide it's gained enough and make sure to cash in?

How many people have the discipline to buy something at $1,000 then watch it increase to $5,000 and not sell if it starts to come back down? Now imagine when it went to $20,000 previously and then back down to $6,000.

There's nothing wrong with cashing out. Can't go broke taking a profit.

[christiansakai]

But who are selling in large numbers? Individual sellers won't have the capacity to absorb the demand.

[tanseydavid]

Have you not asked this exact same question multiple times already in this thread?