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 ? ..
Investors are afraid of the fact that the market may turn bearish and they will have to hold bitcoin until a new bull run. And if the price of bitcoin really declines, then those who sold BTC at a higher price will have a good opportunity to buy more of it for the same money.
I think this is the best strategy, scalping the market and trying to get the best out of it as much as you can. Nobody will be rewarded for their calmness for not buying when the price drops and nobody will definitely blame you for selling when its high. You have done due diligence and the opportunity is there then take it