It all depends on your project and your investor base. In the current market conditions, most investors won't wait and sell your tokens to stop further loss. On the other hand, it may be a good idea to hold it if a project is close to a working product or some important updates.
That is only half of the reason. Yes, indeed during a bear market more investors are selling in fear of a loss. But the reason why the prices tank when a project hits the exchange is also another one often overlooked. When someone sells below the market price the price is going down and when everyone is doing that, to get out asap, then the price takes a real hit.