In my opinion, if you own some Bitcoin and when the price goes down the best thing to do is just hold it and wait for another bull market. Cutting your losses is not that bad but why do we need to sell it if the price will surely recover soon, you just have to be patient. Instead of selling why not just add more Bitcoin to your investment, that would be a good time to buy at a lower price if you still have some extra money while waiting. Using Bitcoin for altcoins when the price drops? I don't think that is a good idea because most of altcoins in the market will also fall when the price of Bitcoin drops.