Yes, because of experience and knowledge, they panic when they see prices going down. If they understand the habits and character of Bitcoin, they will be calm and wait because after a correction the market will rise again.
Many people who invest in Bitcoin have no enough knowledge and experience. That makes them easily feel panic when the price drops significantly. They must still feel optimistic if they have good knowledge. It is because they understand it is a normal drop. The bullish season is still very long time, it won't end soon. Specifically that we still have a halving, it is the time for Bitcoin price to increase again significantly.
What's even worse is not only the lack of knowledge they had before investing in Bitcin, but also the expectations that were so high for them. Because, indeed, one of the things that makes someone want to invest in Bitcoin is the very attractive profits, especially if they find out about this from influencers or the media they see for just a moment. without any in-depth information or risks. So his expectation when investing in Bitcoin is to get high profits and gains quickly.
Well, while the crypto market, including Bitcoin, is volatile, it doesn't always go up continuously. So the price will definitely go up and down, there will definitely be a market correction. and many people understand. that's a normal thing. But for those who really don't understand, it will make them think that they have lost. In the end, because he was afraid because the Bitcoin value was decreasing over time, he immediately closed and in the end he lost. This is what creates problems in Bitcoin development that are not based on sufficient knowledge.