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.Identifying what types of assets we are holding is the best thing to do, you'll be ale set your goals if you know what kind of strategy to use.
Many traders and investors forget about doing their research and while they are into their investment they can't manage if the project dumped down.
It can be avoided if you have the right mindset regarding to your investment, easy to decide if you know whether if it's good for short or good for long.
I fully doubt they are "forgetting" to do their research
Conducting research can be cumbersome and I would rather say that many investors and traders don't put enough effort into it before making decisions. What is enough research? That is actually not that easy to tell if you think about it. You can do research forever. I think enough is when you believe you see an edge over the majority of market participants.