Am I right in thinking that every time Monero goes lower than what we expect. It'll encourage the price to go even lower?
That's momentum and overshoot for you. It is a great day for buying xmr. I can assure you that they will not be buying back my monero at a discount. Only foolish losers ( and forced sellers ) would sell a single xmr at these levels. Bagholding failed pump&dumpers.