Panic is certainly experienced by everyone who invests in bitcoin when prices always go down and there is no sign of the price increase, there are those who are able to be patient and some are afraid of bigger losses and eventually sell in a loss. I think in a bitcoin price situation that is currently down and unstable, the best step is to keep holding and patiently waiting, we will never know for sure when there will be a price increase, but at least we can be sure that price increases will occur, only a time problem that will determine when that happens.
But this is not exclusive to bitcoin, it is a (newbish) trader's dillema. Oops, you just invested in stock/asset/forex and the price went down, it could recover tomorrow, or next year... If you sell now you lose, do you really have something else in mind that would make you more money before the time it takes to recover, even incurring in a temporary loss?
It also has to do with the trader's strategy. Short or long, diversified investment? Any parallel business to keep the cash flow going in?