those who panic to sell bitcoin, maybe they are not mentally ready to enter the crypto world, because most of them are still weak, and are still too easy to believe in people's negative posts about bitcoin, they don't have a fixed stance, maybe from that factor they panic and immediately sell their bitcoin when the price is unstable.
Those who panic are usually newbies without a proper mindset. They usually see Bitcoin as a shortcut to success and that they expect a lot of profit from it not knowing how to deal with the volatility of the market. Bitcoin doesn't have a stable price and anything could happen anytime so panicking and holding without patience could really lead to losses.
Panic selling will just make your investment fall into losses so if we can still handle the pressure, then stay calm and be patient for the sake of future profits. Although panic selling sometimes becomes inevitable but the more we do it, the more chances we will lose all what we have started.
Even myself still fall into panic selling sometimes especially if some emergency cases suddenly arise but as much as i can do, i will never push through it and still think panic selling should not be our last resort. We can lend money to some friends if badly needed but selling our hard earned coins is not really worth doing.