Don't panic yes but isn't it the best time to sell coins while people thinks the price are dropping.
Unless you have a magic crystal ball you don't want to sell and try to buy back on the way down. You'll surely make a mistake and end up losing even more. Catching a falling knife is a hard thing to do. You should just ride it out. The price will go back up sooner or later. If you think we're near the bottom you might want to pick up some more cheap coins while we're there, but otherwise just hold.
Only those that are incredible good traders can manage to do something like that, when the price is crashing almost no one can predict what it is going to be the bottom that is why selling is useless since you will need to determine when to buy again and you risk making a mistake by involving your emotions in the decision, that is why holding will be always be the best option.