I agree totally with you. Greed is the main problem of the majority of people in the cryptocurrency market. They want to invest their life savings on a very risky business simply because of the tendency to make outrageous profit. There will be no panic if people avoided greed in the first place.
Psychologically, bitcoin traders must be able to control themselves in conducting trading activities. Without self-control, decision making can be fatal. An example is greed that can be detrimental because bitcoin changes prices quickly.