Newbie to trading usually easily to panic especially seeing huge amount of correction...
They tends selling their coin (cut loss) instead saving it to wait better price for profit.
You're right dude. This happens mostly to those new traders who spend time looking at the mivements of the alt coins and they get a bit anxious when the coin they bought plunges in rates. It's advisable to avoid looking at the pricr movements when you're just beginning. Just check it from time to time to avoid getting too panicky.