I need some opinion if panic selling can contribute of rapidly drop of the bitcoin price. If it is right how can we convince to the bitcoiners to not doing panic selling.
no there is really a time that bitcoin price will go up and down so if you will panic to sell your bitcoin you should be aware what is the price of bitcoin now then you can sell your bitcoin.
Panic selling is indeed one of the key factor which is contributing in bringing the market value of the bitcoin this much down and that all those who are having some bitcoins in their wallets, they need to understand and realize this thing that doing so is not resulting in loss of their money but it is also affecting the ones who are holding their bitcoins as the market value of bitcoin is going down because of all that.
I think panic selling will not give a big effect on the market if it happens only in some users. panic selling will be bad for the market if it happens en masse. usually begins with bad news or hoax that harms bitcoin, then many users are hooked with the haox and then panic selling and make supply and demand is not comparable.