Panic sells confuse me. I mostly buy for long-term holds. I'm starting to get into ICO's for the huge growth potential.
I think a lot of new investors forget that it's not a loss unless you sell for less than what you buy in for. Panic selling is easy. You buy some BTC (or any coin really) and then you see it go from say.. 18439 to 16400 in a matter of minutes and maybe you think it's time to cut your losses.
It's a bit deflating yes. But if you believe in a coin you shouldn't be up and ready to ditch it because you bought in at the wrong time. These are investments. They will peak and they will fall. If you buy in at a dip, you generally make a lot more money. However, if you panic sell, that's a great way to lose a lot of money and to allow your emotions to run the market.
Because lets face it, emotions run a lot of the market.
I have to remind myself every few days that I haven't lost money because a coin is dipping. It's a natural progression. I bought RXP because I think in a year it can clear 5 USD. That's my belief. That's my faith in the company and the coin.
Panic selling hurts everyone. It often times hurts yourself, more than anyone. Make smart trades.
Remember when BTC hit 8000 and people thought it was the peak? then it happened again at 100000. Well, it shot to 20k in some markets. It's got that potential. Right now it's in a rough spot. But you can ride that out for hefty profits.