Yes i wouldn't recommend panic selling anyway because it shows that you do not believe in bitcoin i would say you only sell when you are planning to cash everything almost out.
i agree that is the most reason why some of them getting panic . because of bitcoin volatility . Since that scenario always happened. However the journey of bitcoin is not done . The big one is coming ithink this year end it will surge as the predictions of crypto community. I hope they will not repent if that times happen .