This is common knowledge. Panic seller will sell and dump the price, while people with good crypto knowledge will stay in the shadow and wait for the perfect time/opportunity to fill up the bag.
This is why they say, Less knowledge will lead you to your downfall.
Indeed, there are many factors that cause people to panic, it could be a lack of knowledge like you said but not a little because indeed the capital placed is just that and no other capital is available. so the behavior to sell so as not to lose a lot and as much as possible a small loss is one solution that can be done. even though we know that by selling at a time like this, it is clear that there will be losses and many whales are waiting to increase their savings. so the lucky ones are those who have been waiting to buy as much as possible from their frantic sales.