It wouldn't be new for BTC holders for a couple of years to experience bear market(a period of fall in price of Bitcoin , for an unusually short/mid-term period) A period of panic where rational decisions must be taken. If a bear market is inevitable, it has to be handled intricately... No panicking!
It's just another of those corrections, maybe others might call it a bear market, but for me, it's just retracement as technically, we should still be in the bull run. However, there are no parabolic rise, even in the bullish season. There are times that we need to see the price goes down, so that at least there are a lot that can enter the market. And also, a shake up is needed as well, to weed out those week hands.
So yes, there should not be any panic here, instead what we can do is to just buy and take advantage of the situation. Bitcoin is at a discount, don't time the market to see what will be the lowest low. If you have the capital then just bought and enter during the dip.