If you are a bitcoin enthusiast you would have no need to panicking because by now you would have known so well and understood the bitcoin metrics and how dynamic it could be and so at whatever point it is at now, you wouldn't be really bothered enough about it because you know and probably believe you still be + in the future if you can exercise the needed patience and discipline to get you holding onto your investments for the longest time to get profitable enough.
Beginners just joining the market do not know all this things and they are those panicking more when the market is falling. There use to be some old investors that will still be panicking but alot more more comes from people just joining with the mindset that the market was going to be giving them profits but when they start to see the market falling and they were not ready for the corrections, they begin to panic. Bitcoin can be falling for many reasons but do not join others to panic when the market is falling. Do ot see the corrections as a bad thing but consider them to be necessary because they market needs a break to keep pushing higher after the break. Without the corrections, the market can not rise higher to new highest prices.
That's why we have this terms:
1. Weak Hands - Most likely Newbies or those who just recently join and hasn't experience at least a full cycle
2. Diamonds Hands - Those who have been in the market for so long, have seen the up and downs, experience at least one full cycle already.
So for the weak hands, definitely, they will panic and push the sell button because they don't like what they are seeing in their wallet. Who wouldn't though? However, in Bitcoin market volatility is part of it so we really have to embrace it and learn how to take advantage but just buying in the dip instead of selling.