In my opinion there are three reason why people panic when we see red. They don't really understand the tech, they are purposely trying to engage fear in their readers so the price decreases and they can buy at a lower point or lastly they have too much invested. It also can be a combination of the three.

Personally while I watch the markets daily I am in for the long haul, mostly in ETH, and when my portfolio took a near 35% loss I didn't mind. I am not over capitalised, I believe I am holding the right coins and I will buy more on the red not sell.