Many people who lack understanding of the market and prefer to believe every rumor in the decision to sell Bitcoin that they had made it up because they are afraid of pricing conditions deteriorated but notice that the price of Bitcoin could rise again in the future.
Those people surely are not patient upon seeing the price to fall and they will do the same thing as those dumping people did. Because they fear that probably the price will go further to fall and they don't know too that it can do come back on higher price so instead of just holding, they do panic selling. I'm one of them before.
Panic Selling is the biggest drawback regarding Bitcoin, maximum people whom I know dump their Bitcoin as the price goes down more as usual. They don't understand it results in more price drop. In market if value falls, it has to increase again if its popular. When People will understand, this panic might stop.
Of course the price will be drop but this will be affect only someone with huge amount of bitcoin. They are the one that control bitcoin price and that is the reason bitcoin price is really volatile. But it does not matter, soon or later the price will be risen again since the sum of bitcoin in this world is decreasing