Quote from: GlobalICOFund on February 02, 2018, 09:30:45 AM

Time and time again day traders talk about removing emotions from the equation. Although it hard not to be euphoric when bitcoin goes up 30% you need to be especially calm when it goes down. Thus create different situations out outcomes to reduce the panic. For instance:

If crypto drops, how will I react? Will I hold? Will I buy more? Can I buy more? Do I have fiat on the guidelines ready?
If crypto goes up, how will I react? Will I sell? Will I hold? At what level will I sell?

There is a youtube channel called Cryptoinvestor where the guy talks a lot about his thoughts when he invests. Irregardless of if you think they are good or not it is a great practice to see how others do it:
https://www.youtube.com/channel/UCTKyJALgd09WxZBuWVbZzXQ

Also a podcast called Let's talk Crypto just released a good episode on the subject:
Episode 013 - Market crash lessons learned
https://schoolofcrypto.com/

So to answer the question: Never panic! Always stay calm. Do your best to keep emotions out of the equation and prepare for every situation. And if you still can't stay calm and start panicking, maybe you should consider scaling down the position.

Good watch and good read.
IMO
The crypto world is so vast that we lost track on what's happening now (and there are lot of things that an individual mind can't comprehend) and ended up selling some coins. LLast year bitcoins price is predicted to be at least 10k $ and a lot of people sell at 2-5k$, if you can't handle the rise of tides then how can you handle the drawbacks? There are thousands of other factors there, why BTC is falling and rising but never ever forget that this is in the name of money, the basic rule is "invest what you can afford to risk". Long time holders don't bother about this and short time holders are grinding their teeth. Those who are knowledgeable enough can control themselves, so where will you stand?