I do not think that traders are selling their assets now. The market is experiencing worse times, but its unlikely that anyone will want to sell their cryptocurrency so cheap
You can believe me, some people really do it. I know the guys that are my friends, and they sell their altcoins as soon as they think that the market will never rise again. Do not repeat their mistake and hold your crypto.
Yes, I also know some people like this personally. But I always told them that everything would be fine with the market. But of course, not everyone has the strong nerves to wait a whole year.
People do panic and like you must told them as well that dont worry. it is being happening with bitcoin since last nine years but see this amazing chap, it is still making lives of people.