So we had the halving hype and lot's of people pouring money into bitcoin in anticipation of the halving. This pumped the price to $785 a coin which was pretty much expected or at least not surprising. Once people realized that the "halving run-up" was over, they profit-booked, causing an expected correction. It took a while to find a consolidation range, but it seems we may have finally found it ($550 to $600). This has happened with all other halvings in other cryptocurrencies.
So why is everyone freaking out about a "low price"? We are up $350, give or take, from the price at this time last year.
You are absolutely right that the price has gone up a lot already. However, only smart people have been able to benefit from the jump to where we are now. People panic/are freaking out because they bought at +$600 prices. That's why they don't care about the fact that the price has gone up like $300 already. It has zero value for them. All they care about is that the price must go far above the $600 level again.