Jerry, I think exactly like you, it's both idiotic fear and exaggeration.
If you don't have to use it at that moment, why cry so much?
assuming it returns to 1.
And I repeat those who bought at 0.7 and went to 0.9 is a lot of profit, how many BTC did Luna sell to be able to bank the price?
People panic for something they fear about its unknown future.
I do agree that if you have no reason to sell, why sell it at a loss?
Better wait for it to go back to its $0.9-1.0 price range, and maybe sell if you are too worried about this market.
For me, there's nothing to panic about because if you can see the volume, it is still one of the largest in the markets.
So they won't be exiting anytime soon. Better wait for it to recover, sell and get out if you don't want a headache.