I am one of those inexperience holders that started to panic when I'm seeing the price of bitcoin to fall but I learned from my mistake and started to focus with the charts. And right now, I strongly believe that the price of bitcoin is going to become higher and I don't need to panic right now, the market of btc is strong.
Yes, to make good money using bitcoin you need to get a lot of patience, because emotions can only be lost.
And if you are going to become more patient as the price of bitcoin is going to increase for some more and I think this is unstoppable right now. Those panic sellers are also happy right now and they don't intend to sell some of their holdings because they are seeing that it will give them big profit when the price starts to increase more.
You add satisfaction too, there are traders that set a specific target price no matter what happens as long the price went through to that price, they will sell. And probably those big bag holders are selling when they started to see their satisfying price. When that happens, the price starts to fall and volumes of small time traders are following.