They don't know the potentials of the blockchain technology and the future it holds and that is why now that prices are down
Most of the people in the crypto space don't care about the technology, it's all about looking at cryptos as a form of investment and making money and huge profits, and I doubt things will change in the future until the adoption phase begins when people will start investing in cryptos for their actual real world use-case.
They are those who are seriously doing panic selling over the markets
I don't think the current downtrend was caused by panic sellers, I believe we got rid of them a long time ago, otherwise, the price would've tanked a lot more, what we're seeing today might just manipulation from some big whales.