This is a normal situation. When people hear negative news about Bitcoin, they will choose to sell. They are newbies to cryptocurrency and they are afraid of failure. This is also the reason why most newcomers fail to invest. This will also be the experience accumulated for their future investment, and the wasted opportunity can only be missed. The potential of Bitcoin in the future is still worth long-term investment.
You are right. People who panic and sell their bitcoin when the price goes down are mostly Newbies, who just got into the Crypto world. They lack confidence and patience, and are afraid of losing. Bitcoin is for the strong hearts. The reason i don't panic when the price falls, is because I believe the price can't fall to $0, and I also see every fall in bitcoin price as an opportunity to buy more of it. Bitcoin will definitely be more valuable in the future.