Newbies will panic more than an old investor because he is new in the market and has very little experience. Unlike an OG bitcoin long-term investor who have experienced the dip several times in different circles, he already knows that a dip is a norm and he has full confidence in bitcoin that when there's a dip, the price will surely bounce back. An OG investor sees a dip an an opportunity to stack up more bitcoin at a cheaper rate, but a new investor will panic. An old investor has already prepared his mind down for a dip.
If an old investor has already accumulated a huge amount of money overtime, his bitcoin portfolio might always be in profits when there's a dip because he bought his bitcoin cheaper and earlier.
That is a fairly fundamental difference at the level of old investors with new investors in Bitcoin because everyone can have a sign whether he is experienced enough in investing or has just started at this time. Because it is true as you said that those who often panic when they see a decline in the price of Bitcoin are new investors who have not been investing for long or even those who bought Bitcoin at a higher price so that when there is a minus in their portfolio it will make them a little more panicked and not calm like old investors.
In addition, old investors usually prepare themselves better when facing price declines in the market such as preparing additional capital to buy again when there is a price decline, also preparing the time to do it earlier. So those who have been investing for a long time are always far from panic so they can still be calm when market conditions change suddenly.