What makes people panic sell can be caused by those who are just starting out in the cryptocurrency world, lack analysis, just go with the flow and don't have a strong stand in making decisions.
There is one more thing that makes people panic sell, they are afraid that the coins they hold will burn to zero.
In addition to new investors in the world of Crypto, Panic Sell can also occur for seniors who have not stable psychology, where the trader has actually been profitable, but not sold, so prices dropped dramatically and at that time there were many of us who had panic selling, so from it Psychological is very decisive. There is also for traders who have been profitable, but have not been targeted, they are afraid when at times market crashes, and finally they panic sell by bringing a little profit