A problem that some people have is that they think they have put in as much money as they are willing to lose into the market, then when things like this happen they freak out and take out their positions at the lows.
Markets are scary and when it goes against you that fear is realized.
Have rules, know yourself, and take profits where you can. As you have said in previous videos, losses hurt twice as much as wins.
Indeed - which is part of why most people don't learn until the market crashes. You just have to hope for them to be quick learners.
Cryptovestor, don't know how many bubbles you've lived though.
I caught the tail end of the first dot-com bubble, the minor solar bubble (small profits but w/ small position size), China bubble (gained a lot, lost a lot, and ended up slightly up in the end), and finally saw the insane speculation around the housing bubble (made money shorting on the way down with my 10% short portfolio position although I was 50% net long and slowly laddering in during the downturn).
I've thought that bitcoin was down for the count 2 times previously. Any good bubble will inflate 6 or 7 times before completely collapsing.
Everyone needs to sell on the way down so that they can buy at a higher price as it blasts higher. Eventually people get taught to buy every single dip.
Which, naturally, will be when the bottom falls out.