It's not a good move I think because even though bitcoin is starting to dump already once again, considering the value it was able to achieve, we can already say the possibility is high that it will experience bull run once again. There are only two things you may get after panic selling, first is regret as you see bitcoin regain its value or hit a new all time high and the next thing is relief, as you witness bitcoin falling down hard after the consecutive all time highs that it was able to make. Nevertheless, next time it would be best not to react instantly on a situation, instead you should assess what might be the best thing to do.