Panic sell will only make us lose our money easily. This really happens too often and many people will complain every time there is a correction like this.
And after selling off the coins, they will regret them.
This actually happens again and again.
It will be different if someone has set a stop loss to minimize the loss, this has been measured, but not for a panic sell.

And about buying coins when in the market correction, actually this is also very risky because we don't know whether this market will end at the resistant or even will continue dropping. However, if we are willing to buy some during the dip, it can be done by buying step by step, not all in.