I disagree with your comment; most people who have been accumulating bitcoin for the past 5–10 years have accumulated most of their bitcoin at a low price. Even with the recent dip in bitcoin, there will be no room for them to be worried because they are still in profit with their bitcoin investment, but since they are in bitcoin for long-term purposes, they will not sell their bitcoin for short-term profit. Secondly, since they have been accumulating bitcoin for 5–10 years, they have seen bitcoin in situations like this so many times and how bitcoin always recovers. If there should be panic among bitcoin investors because of the recent dip that happened, it should be the newbies because they have not fully experienced the volatile part of bitcoin. They will be worried about the recent dip and the current price of bitcoin. If they are not strong, they will sell their bitcoin at a loss during this dip.
One of the major thing an investor should know especially the newbies coming into cryptocurrency is to have a strong and prepared mindset that when bitcoin price dips, it should be an opportunity for us to buy more and not to panic into selling off my portfolios. A newbie that is able to conquer this in their mind, they will never have problems with the dip. 1BTC will always be 1BTC unless you take a portion of it and sells out that its value will reduce. A projected profit target should be reached before you sell off your bitcoin. Many dips have come and gone and bitcoin always bounce back. The enthusiasm in bitcoin has made it an asset that many people have believe in to always bounce back even when the future of it is not certain by anyone. Owning bitcoin for several years is not a guarantee that they can be able to withstand the market conditions, if their mind is not prepared for it, they’ll always feel bad and have a reason to sell some part of it off.