Panic selling is never recommended i would never panic sell because i know i can make a lot of loss if i try and sell in panic when i see the price went down for a couple of minutes and i think i would rather prefer to normal sell than panic sell.
You don't say this to people that are panicking when they are witnessing the price of bitcoin falling very quick. Before this is what I do, I don't care about the recovery but what I feel is that I'm FOMO. And after several months being in the bitcoin world, I understand that the market is reacting that way. The whales are shaking the weaklings so that there will be more bitcoin that will be supplied back to the economy after being held.
people mind is now changing, they are now trying to avoid panic selling, even if there is any unfavourite conditions or news in the market, people trying to hold bitcoin. In fact people are now mature and they know the importance to bitcoin therefore they try to hold their bitcoin for a long time and set a good profit from there.