I don't think it is panic time yet because i think that it will reach 10k and then slowly go down in value but i don't think that bitcoin will go back to like 100 dollars i think it will stay around 5k and maybe even rise higher if bitcoin will become popular.
There should be NO TIME FOR PANIC, not now or even tomorrow as we shouldn't feel that or else you'll just end up losing. As trader we should be used to it as fluctuation is all usual in a currency and we always see the repetition of events in cryptos. When it dumps sooner or later it will pump and the one's who sold while in dips are the one who are losers in the end.