I will not write the famous cynical phrase of Baron Rothschild, which applied to the stock market. But it is in such situations, when a newcomer enters his portfolio and sees -30% - 40% of his savings, he starts to panic! Then he sees news about the next fuck-up in the world (war, pandemic, catastrophe) and he gets scared and sells at a loss. The financial market is a psychological game. This is how money moves from weak hands to strong hands. Or as they say "the rich get richer again, and the poor get poorer" - this is the way the world works, there is no point in fighting it, but you can understand the rules of the game and apply them in your own strategy.

I'm scared right now too, which means I'll be averaging my spot positions. When I get really scared, I will buy more. For this purpose, you should always have cache (stables) in your portfolio.