I don't understand why other people will choose to sell even though they are aware that the price is still low. The only thing they are going to get are losses. Instead of selling due to fear of losing, it's always suggested to hold your bitcoin for a while, until the price go back up again.
One of the reasons of why that happens is that panic has taken over them, they are no longer thinking in a logical way, they are letting their emotions getting in the way and once you do that you have already lost control over yourself and your money, this is why one of the most common advices is to always control your emotions when you are trading or investing.
People sell there bitcoin becs. The stress level is already beyond control. They are afraid to lose that much and tend to panic.