yes you are right that panic selling will only lead you to lose some coin value. here, being patience is a very important to have. It is virtue and we must have full patience, not half or moreover quarter. But, patience is not enough. We need to be smarter and more careful in considering the right time to sell, buy, and hold.
A big amount of patience is needed when you are investing in crypto, we know that it is not stable, and the market price can change anytime, so you need to have a 100% trust and patience in order for you to succeed in here.