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.
So let us clarify what is panic selling and panic buying ine by one. Panic selling is when you got afraid to think and to the output of your selling for me the panic selling is when you sell inr thing you got oanic because it is not your full decision because you think about whay come after next if you sell that thing if ita good or bad idea. And the panic buying for me is like you got panic to buy because you think the price of the thing you buy after you buy it maybe got to dropping low.