It's a simple reason, actually. And maybe I should apologise because I'm gonna turn this into a full-blown article but the bottom line is: bitcoin won't go to 0 because people believe, fiercely and strongly, it won't. It's basically a religion.
Bitcoin is a 13-year-old technology that changed what we knew about money and property. Everybody is talking about the monetary side of it, and I'm up for it, no problem, but we all know that the true value lies in the technology that supports it. That's the number one reason why most people 'believe'.
The second reason why is that if you've been in the game long enough, you've already seen a bunch of corrections including two major and loud drops, one in 2018 and then again one in March 2020. I, for one, can confidently say that if I didn't lose faith, and didn't panic-sell in 2018 and 2020, I probably never will. I can only speak for myself, of course. I can't speak for anyone else, but I strongly suspect a lot of people feel exactly like I do. Whales definitely do, considering they've been buying everyone else's dip in recent times. But that's a different conversation altogether, I guess.
What do you think?
I've crossposted this article on my blog bitcoinea and on LeoFinance
