I agree. Panic selling wouldn't make any profit out of your btc. And it's not really advisable for some traders who really want to make a good investment. Patience is the key and controlling yourself on how long you have to wait for the value to go up.
The solution for this is never put your money on the item that you are half hearted with. If you don't have faith in bitcoin, better forget about it. But there is also a possibility that most of the dumps are people cashing out with their profit. So we can't blame them about it. It is their holdings and it is their decision whether they want to book a profit at the current price or wait a bit longer to have more profit.