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.
That is true, 50% is too much but their is no too much to a business minded person. In bitcoin and when you are trading you don't even look for the lose but instead look forward for what you are going to get from it. When you are trading you must be ready to take a risk because it is realistic.