Cash out for fiat currency when you can not wait for the cryptocurrency to recover, bitcoin and most of the altcoins will likely to recover within days or weeks.
Get out isn't a good way in this case as fluctuation is a normal thing in crypto-market, just watch over the latest news of bitcoin in some countries.

Yes, you can allocate your funds to some potential altcoins such as bcash, ethereum, monero or some cheaper coins such as waves, iota, aion, xrp or xlm and much more.

For real hodlers, it's the best way due to bitcoin will regain its value and tend to rise over time, bitcoin won't let you down as long as you can be patient for the storm to pass.