I think this topic is worth to remind again for many newbies who panic about the current situation where Bitcoin price $30K strong resistance now drop to $24K currently traded. There are many so called expert who always predict Bitcoin price will go to x, the bottom is x etc, also one of them were offer to give his money to everyone if his prediction gone wrong, this strategy is to convince newbies to believe his words.
Not only newbies but the old investors also get panic seeing prices of bitcoin below 20,000$. More panic is being created by crypto related news sites which can more negative news shaking the confidence of the bitcoin holders. In these times, we need someone to keep reminding us that we have to stay strong and threads like this really help us to stay focused and not get involved in panic selling.
I don't think old investors will panic and sell. If they had witnessed the market cycle of Bitcoin at least once, they had a clear view of what will happen next. Unless these old investors badly need the money, they won't sell but hold until the Bitcoin market recovers and breaks another series of ATH. So basically this scenario of BTC price crashing is just an ordinary event for those who witnessed the previous market transitions of Bitcoin (trade history).
But I agree that this kind of Bitcoin market crash is disturbing to Newbies especially those with weak hands. They really tend to panic because they had little experience with Bitcoin Market. To stabilize their emotion, they should do research about the previous trade history of Bitcoin and carefully draw out the pattern. This might change their belief and might be transitioned from selling to buying more BTC if they have more funds. The least result might probably hodl until the Bitcoin market recovers.