panic sellers have a specific reason why them do that, because what they do certainly avoids the big losses on the investment they have by selling the existing assets or they can lose everything they have
It does not work like that. People sell but unfortunately they often lose a lot. Sam convinced myself moments ago. I sold BTC as the price was 6.2k $ and a few days later the price tagged up to 8.5k $ ...
Yes I second you, People only sell because of a loss fear, Though its painful but they keep doing that unfortunately.