People are always in a hurry and always do it very quickly, but then very often it happens that people regret that they did wrong and made conclusions very quickly. Perhaps this can be called a panic. Therefore, I think that it is not profitable.
Some sell quickly to avoid big loses so in this case it is depends on the altcoin you are investing. Yes panic selling happen for those who did not know the altcoin they have. Only hold altcoins that is worth and profitable and sell altcoins early if their is no future on the project.