Panic can lead you to make decisions you'll regret. For many, this is the time to buy, to pack your bags, as they say. And I believe this is a positive outlook; it can actually become an opportunity for significant profit. It's a great time to monitor the market and invest; many successful investors have this mindset. Use it with caution!
It is very difficult to control your emotions during the times the prices are correcting even in the bull phases. A mere 10 to 20 percent downward movement in bitcoin may panic many holders who wanted to exit at the bull market top.
During such times, a lot of things comes into the mind that the bitcoin bull market is over or we are near that stage or maybe price is making lower high and never make another all time high. All these things creates a lot of doubts in the mind of investors and only those who are firm holders can survive this testing time.