For long-term investment, you will not panic because of short-term price fluctuations. Although you may make less money than in the short term, the long term is safer than short term investing (provided you are investing in value coins, not meme coins). You can spend more time analyzing market conditions.
You will not panic only if you do not follow the price changes in the cryptocurrency market. If you regularly monitor the change in the value of your deposit, then you will be just as upset that it is decreasing as other traders. Now you may be upset that you could have bought more bitcoins if you hadn't done it a few months earlier.
If you have the habit of panicking or short patience, Investing and trading is not for you. I believe that regularly monitoring the price change isn't wrong if you are an investor or trader. It would depend on how you manage yourself on the outcome of your monitoring. A good investor always have a good plan on their mind before putting up money on their investment, Monitoring it is a good thing in my opinion knowing that you can track what is happening to your investment and if it is going according to your plans. Panicking on a small price changes are just a newbie reaction especially we are on crypto where most of the tokens are volatile. When dips happen, True investors accumulate more and position themselves in a state where they can possibly get a profit long term.