The one who sold at loss gonna buy again above the price at which they have sold their coins before out of FOMO when any change occurs in market trend people used to panic a lot so same can happen when market will turn slightly bull. People gonna jump in regardless of price and we might even see way higher ATH price in another bull over $20k. Price has ran from $1k to $20k within a year period just keep that in mind.
Yes you are right and that is the reason why they should hold their coins today and not to sell everything because the market price are still dumping, just wait for the price to grow up in order to avoid losing a huge amount of capital.