You're 100% correct. While I might not panic sell, the reason I might do so is if I'm losing trust in tne project or if I need the money. Most times it's always the latter. But I haven't panic solid because these situations have not been presented into crypto endeavors.
Another thing is that my bag is extremely small so I can handle everything I've got.
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To an extent, these two cases (losing trust in tne project or if I need the money) go hand in hand.
The trust concern plays a huge role in panic selling, especially when it is a new project. Or when we hear a news that disrupts buyers and sellers relying on Fundamental Analysis. And when an individual didn't really plan on investing long term for such project. This will prompt panic selling also.
However, just like you said, it is important to coat your cloak according to your size. Invest what you can handle, come what may happen.
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