That's right, those who panic when the market goes down a bit are not long-term investors. Long-term investors never panic when the market falls, rather they try to buy more bitcoins. In fact long-term investors do not focus on the market, their goal is to hold investments for a long time and continue investing in the DCA method. Now to invest in Bitcoin you should plan long term, if you plan short term you may face loss instead of profit. Short-term investors will never succeed, investing in Bitcoin requires long-term planning.
I consider of two panic things: one in your mind and another one in your action. You can feel very fearful and panic in your mind with market crash and high volatility but if you can control your action and don't panic sell, it's good.
I know very scarce people who can control their actions (avoid panic sell) while they are very fearful and panic with market wild volatility. People who can do this, will survive through market crash without losing their bitcoin from panic sell. By experiencing it succesfully, even they were not well prepared for it, they will become more matured as well as understand about the market more deeply. Those people have more chances of success in future and they will upgrade themselves with better capital management and well preparation for market crash.