Cutting a 50% loss is too much.. Instead, just forget about that trade and focus on another opportunity for now.. You can check on it from time to time in case price has improved.
Bouncing back from 50% loss is not impossible in crypto market trading world, you can clearly see that some coins rebat with 100% gain on its price based on my little experience on trading, I'm not that good or expert with this kind of trading but I manage to witness some coins pumps over 100+ percent like bitcoin and eth over a short period of time. Holding the right coin is the key for you to cover all the loss of 50% because if you manage to hold some useless coins from PD and scammer groups then you may have to shift to another genuine crypto.
Yes, not all coins that have over 50% would mean that it is a shitcoin. With this kind of market and considering the nature of altcoins, it's quite possible to recover from that. You may be surprised by how fast the market moves.
My suggestion to OP if he really is determined to hold for long term is to avoid letting his emotions get to him. A 50% loss is huge, and he may resort to panic selling if he ever he suddenly feels depressed and the need to cut his losses. Just continue to hodling if you truly believe that this coin is worth for long term investment.