Yes you are right, people may sell their bitcoin in less value time because may be they think that its price will go more down and will have to face more loss. So they sell them in less value and don't wait for the price rise. But it is profitable to hold the bitcoin when the value is less.
Too much thinking is what has made some people to miss out on good things or possibly ended up not making the right decisions. This is a market that has shown a lot of strength over the years and the possibility of showing even more strength as time goes on and I wonder why anyone will not see the real picture and end up selling probably because the value keeps going down.