Panic selling is just for inexperience holder of the bitcoin because if you are have enough knowledge you will not do a panic selling.
I am one of those inexperience holders that started to panic when I'm seeing the price of bitcoin to fall but I learned from my mistake and started to focus with the charts. And right now, I strongly believe that the price of bitcoin is going to become higher and I don't need to panic right now, the market of btc is strong.
Yes, to make good money using bitcoin you need to get a lot of patience, because emotions can only be lost.
I don't think so, The patience will be usefull for the long-term investment or trade. If you try to short and it will be useless. In these days a lot of the panic selling was hurting the price of coin caused by the bullish of bitcoin.
Correct panic selling is not good for the investor, doing short term investment in bitcoin is not good for an investor because Value of bitcoin is volatile its hard to predict when it will rising or dump.
But panic selling is good for the bitcoin it self and there is also benefits for those users who keep their bitcoin for a long term.