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Oh Peter. When will you ever learn. Bitcoin hodlers won't sell their bitcoin because they believe that long term fiat currency is going to crash and burn. It has nothing to do with realizing paper gains.
Are there investors and speculators in the space? Of course. Do they play on the hype cycles for profit. Yes, of course. But that's not your typical bitcoiner or hodler. The reason you hold long is because you believe in the product.
I know there are many hodlers that may take some profits off the table every four years to pay off some debt, pay some bills, and to spend or invest in other areas. But true bitcoiners and holders of crypto are long. They believe in the tech. They believe in the space. They have zero desire for paper profits, other than the necessity of the current landscape.
It's hilarious that you still believe it's going to zero. Do you realize what's about to happen after May of 2020? Have you even looked at the 4 year cycle and what happens to the entire crypto space about 6 months after the bitcoin halving? Study 2012-2013 and 2016-2017. And yes, both of those bull runs were followed by bear markets with the huge gains correcting. But, most likely, while you are waiting for it to go to zero, you will be missing out on a huge 2020-20201. And we know during the correcting of 2022-2023 you'll be spouting the same propaganda that it's going to zero.
Do you know what we will see during that correction? We will see bitcoin drop, but this time it will stabilize somewhere above the 2017 high of $19k. Because every 4 years we see a bull run followed by a correction with higher highs, and higher lows. It's the way bitcoin was designed to grow adoption.