Hey there!
A question of panic selling was already discussed on this forum a billion times. But whats bad here? If you are sure that the price will grow back then you can just buy some BTC in better rates. The more dangerous will be the situation when someone is buying BTC while being afraid of loosing some profits despite the fact that pump has already happened (I'm calling it a panic buying). Thats seems like a straight way to lose money and make a bubble.
We should forget about any emotion when we trade.
I would say that both panic selling and panic buying are wrong actions,because people are driven by emotions when they execute such actions.All the buying and selling decisions must be done after proper tachnical and fundamental analysis of the market.
Anyway,all the panic selling and buying made by the newbie traders is good for the experienced traders,because they make profits from other traders mistakes.
I think Panic Selling are the only problem why the price of bitcoin drop, we can say that panic buying are a good thing for the price of bitcoin but sometimes bad for the one that is buying for example when the price plummets down that is the time when so many people wants to buy bitcoin but if the buyer would use all of his money in buying bitcoin that is a bad thing for him, you should invest your extra money and not all of it in bitcoin. but it will sure benefit bitcoin.