A lot of people that do invest their money on bitcoin rely on it to rise so that they can trade it, it's only few bitcoin investors that have the mind of hodling their bitcoin for a long time let's just be very realistic, many people that buy bitcoins monitors the activities in the price of stocks in the market. And inasmuch as investment is concerned, whoever that invested their money on a particular project is hoping to make profits so due to the fluctuations in market prices, you can't blame someone that chooses to sell off his bitcoins if he notices that instead of the price to go high it start dipping so they're always in fear of losing everything thereby the reason for them selling off the little they've accumulated.
Well I wouldn't say you are wrong because every investor is entitled to there decision and believe or rather a target, so however just like this thread that educate people about holding so it will be left for an investor to either listen or they go for the strategy they feel is more suitable for them because most people especially the beginners fails to understand the risk on chasing bitcoin price and the emotional and psychological involvement on it.
So imagine how you could be feeling watching your bitcoin price dropping below your entry points, I think one of the factors that drives the minds of most investors is greed to always take advantage of the bitcoin price movement forgetting that trading is not like holding because the possibility of losing everything at a time is very high in times of trading and the only time you could really see what the future holds for bitcoin is by holding.