The price of cryptocurrencies basically follows the rules of demand and supply. As the coin becomes scares it becomes more valuable and hence the price increases. One common mistake most investors do is that, once they see the price of a coin is going down, they hastily dump what they also holding which increases the supply more than the demand and further reduces the value of that particular coin. Later we try to put the blame on the team that they are not managing the project well. Let's help sustain our coins by avoiding panic selling. Its a collaborative effort.
You are right, way too many people are panic selling their coins always thinking that the coins are not going to get better which is not a good way to go about helping the coin that you are invested in. When you panic sell you are only hurting the price of the coin, demand and supply balance is what determines the price and it is why the entire market is so low right now