I do not think there will be panic buying or panic selling. The bitcoin is quite stable at the momement.
I agree, I don't see any indications that people should panic buy because as stated above, the bitcoins price is stable. Even if it reaches about $600 I don't see them dumping their stored bitcoins. Almost all of us now is holding bitcoins thinking that its price will pump before the year ends. I think they will start panic buying when the price reaches for about $550 and then the panic selling will be $850. That was my prediction. Sudden increase in the market price of Bitcoin will cause panic selling and vice versa. Who know's lets just wait 'till the year end on what will happen in the bitcoin price.
It would always depend on how the trend is going, if the price will rise very fast then I could say that it is not normal as it will fall back in no time, if you happen to see that kind of price you should to the right thing which is panic selling.
If the bitcoin price just rises 1% a week, there will be no big price dump as that is similar to the adoption growth.