Why do people sell their Bitcoin due to fear of the current drop in price. Do They feel the price will drop further and never go up again ?
People don't want to miss the chance to get profits. It should be the main reason that they do panic selling.
They know that Bitcoin price should increase again, but it sometimes takes a long time. Some people aren't patient to wait for the next pump, so they decide to sell as quick as possible. I think we can't blame them, they have the right to sell at any time.
Well, there is no one who knows when Bitcoin skyrockets again. It can be in the remaining of the months of this year, or it may be in the next 3-4 years.
I feel before anyone invests on Bitcoin they should get a proper understanding of how the Bitcoin market operates. Because if an individual has good understanding they will know that the rise and fall in price of Bitcoin is normal so there won't be a need to panic rather see it as an opportunity to accumulate as much as possible in anticipation for a rise in price.
Of course, before we join Bitcoin investment, we must understand the nature of crypto market and how Bitcoin price moves. Pump and dump are a part of crypto market, there is no way that Bitcoin price will always increase. There should be the time for correction or sideways. If we understand this, we shouldn't panic with any situation in crypto market.