Panic selling is probably the worst thing a trader could ever do with BTC. That happens because people invest and buy more then what they can afford to lose because If they didn't buy more , they simply wouldn't care , have patience and wait whatever time It takes until It raises again.
People who bought more then what they can afford to lose are always in panic and the least drop in the price could make them panic sell and that could result into losses , however If they waited , It could've go up again.
When i was a new trader, i followed my emotions , got panic frequently and finished the trade in loss. My major mistake was i bought coins whose price has almost reached high and sold immediately in panic when its price started to fall resulting in huge loss. But then i learnt the basic lesson, buy when the price starts to fall and sell wit a calculated profit margin when price starts raising.