They panic because they don't have enough knowledge about crypto so they wouldn't know how to deal with the market and that's actually normal for newbies. To be honest, all of us have committed mistakes in the beginning but it's just how we learn from it that's important. We couldn't be pros in the beginning but we could learn how to handle our emotions as we cope up with the changes in the market.
We should learn first to determine whether these is for short or long term investment. We will only need to panic when we know that the projects have no future at all since some projects are good in the long run while others are just it that moment. It's okay to panic at first, but later on we will know whether how long we can take the risk of investing and will be able to built a plan suit in our capabilities.