For a newbie just as little as a 1% drop could make their hands and feet shake and become nervous at that moment because. There confidence ib the market is shrinking day by day everytime it gets close to the market value on where they bought it that ia why even if the market is going down they'll jump as the earlist sign shows up because they don't really believe on the asset that they are holding but rather just see the profit they are expecting. We mostly have non-believers as the first one to likely bail when they see blood in the market.
It may not really mean that they do that out of panic sell, or they did that because they are newbies, but we have so many traders in the market again, and they all make use of their risk management tools such as stop loss and take profit, we also have some traders that the moment that they see the price going below what they have started with, they stop loss and sell immediately to fiat waiting till the time that there would be a rebound of the coin back.
It is just normal that people are trading, and this is why we may continue to witness lots of fluctuation is the market and series of fights between the bears and the bulls, because the bears would always find reason to leave the market, while the bulls will always have reasons to stay In the market.
