as a trader like me it is normal to be afraid and to panic when the price of market or crypto coins fails because we can not do it but we can sell it at a cheap price when we lose our investment.
That cutting your loses not to lose more. I think its not good to panic sell, be firmed as long as you trust your coin and the development behind. But if you are uncertain about your coin, its better to cut loss so that you cant incur more damage. Aim for long term too, but be aware always on whats happening.