Panic will affect the nervous system, direct psychological impact will be accompanied by hasty decisions, not controlling your own behavior. Impatience, lack of confidence are the reasons that accompany the panic that shows the failure in this market. All that happened after that, was guilt and regret
Good point, any decision making that comes from panicking will turned to regret once the market start to bounce back.
Without further knowledge with how the market is really working, you'll find yourself one of those who easily decide when bad situation happened,
you need to work for more and not to just follow your emotion, if possible better to go against that and make a stand from what you believe on.
I think people who have been in the crypto space understand that the value of the crypto always goes up, irrespective of the dips and crashes. The panic sell usually occurs from the people who are new to the market and are not used to the volatility of it.
Most of experienced traders do know the cycle. It's their knowledge that keeps them surviving making decent money from this market.