One of my friend say, the panic of non believer is our way to make more profits. Thats mean our chance to buy more cause the price is dropping and wait a little but until gain profit from it. But dont be so naive though, if its time to cut some lose just do it.
Not all the time, as you can see what is happening in the whole market it getting bloody due to panic selling because continuous selling the supplies getting much higher than the demand and it has big effect in the value of coins. But yes it would be an advantage if you have capital to buy coins at a lower value right now. Yes trading in altcoin is very profitable just learn how to be more patience because that is the key to earn in this method.