Why do you panic? Why?
IF YOU DO NOT SELL, YOU DO NOT LOSE ANYTHING! YOU LOSE THE MOMENT YOU SELL, after you purchased high and buy low. It does not matter what is the price ATM, the only thing which matters is what is the price when you decide to sell. So, to shield yourself from losing money, DONT sell under the price you bought it.
If you trust in crypto and believe it ll bounce back, WHAT THE FUCK IS THE PROBLEM AND WHY PANIC?
If you do not trust in crypto and you have doubts whether it ll bounce back, well, in that case you are in the wrong industry and you shouldn't have invested in crypto in the first place.
So knowing this, what is the problem again?
EDIT: This post was created on February 6, 2018 when BTC price reached $5920. After a few days, it recovered to $8k. Will keep this ledger so people know Bitcoin ALWAYS recovers!
I'm not that expert nor veteran type of enthusiast when it comes to crypto, ut been more than a year risking and earning though. I am also not one of those people who panic sell everytime crypto falls (but I've been - when I am a newbie) and I understand people who do panic sell and want to give reason why;
(1) Volatility is given a hundred dollar value today might be zero value tomorrow, isn't this something to scare about? (yeah people who have no guts to risk shall not enter this kind of trade but they re still people who wanna seize every opportunity to improve lives financially)
(2) Some of us risk almost all we have, not just an amount we afford to lose for the chance to be a hundred fold more intention, but if keep hodl and fall continue it would mean hunger for a mont so they move fast and recover anything left than lose everything (which is possible)
(3) Not all times, hodling had been a good move just look how many alts already delisted in exchange and die.
Note: I have no one against with just saying my own opinion being understanding to panic selling. I not sure if all of us here had been one of them before, but I'm sure most of us did.