You are very correct. Those panic sellers should open their eyes to see tomorrow. It is the most unintelligent thing to easily throw away an asset like bitcoin because the price is coming down. But you forgot that at the other end, someone is buying bitcoin from you.
But you cant blame them ,specially if this is their bread and butter and leave them no choice but to sell when time comes they need cash badly..some instances dictates the investos to sell off their coins because of desperation from the real life crisis.just like me though i am in long term holding but i never take the possibilities that one day i will dump my coins if needed