Yes, I assume the price drop is due to people selling off their positions, which is also known as “cashing out”. The “smart money” moves in at the bottom of the sell off, if you’re bullish on BTC.

One day later, and it looks like I was right. The buyers have chosen a bottom and the prices are rising again. Lots of people cashed out yesterday.

Ultimately I feel like the payday comes when you’ve bought something you actually want. Prices of all things can go up and down.

If you goal was to buy a house and house prices suddenly increase, even after you cashed out your bitcoin, you might still be disappointed.