Hello everyone

I just started with Kraken and have a few questions.
I have bought some XBT at a price of $2000 usd before and it is dropping quite a bit today (11 june)

My question is..
1) Lets say the $2000 has dropped to $1000 and i foresee that it will drop even more.
Wouldn't it be wise to tell all XBT now and wait until it is actually at its lowest (to my point of view) and then buy in XBT again with $1000?

2) When people say they are holding onto their XBT regardless of the price, does it mean that they are just letting it ride and hope it just picks up later?
So for example, someone bought it at $2000 and they just let it sit there even if the price goes to $1000 or $0.01 cents (i know this won't happen but it's an example:) )

Thank you