I know some coworkers that sold BTC today, they are real casuals, they got into BTC because they heard it went up a lot, they don't know even to set a local wallet so they store their coins on Coinbase or wherever the fuck they buy at.
Well, they sold today at at the dip near the $4000 double bottom.
The irony is, these casuals are the ones that are always complaining about how it's unfair that BTC is distributed in the hands of few whales, YET, they are the ones that constantly panicsell and give their cheap BTC back to these same hands they are complaining about, because guess who is profiting the most on these dumps: whales. They buy lots of cheap BTC.
If you want whales to stop having so much BTC, don't panic sell or you will keep feeding them. Just focus on your own portfolio and keep stacking BTC on the dips. In the long term, we will win.
Panic selling will always happen for the people who are not well knowledgeable about how cryptocurrency works, that is the reason we should invest even more when the market prices are decreasing.
I think not only investors who are not knowledgeable, panic can come to all investors. if the situation on the market is in very
worrying. but I'm sure experienced traders know how to manage their panic so as not to influence the decision he chose..