Despite this, it seems that most holders would not give up on Bitcoin no matter what. But, if Bitcoin keeps declining in value until it becomes worthless, then long-time holders (like me) would become disillusioned. For those who want to protect their investment, there's the option to sell Bitcoin into USD or exchange it towards a stablecoin like Tether. However, even Tether has lost its peg (although in some occasions it heads back to $1) sometime this year, which means that not even stablecoins can be trusted.
Someone recently argued that the accumulation of Tether is actually a good sign, (even though Tether is not to be trusted). The fact that so many people tether instead of cashing out to Fiat, means a large number of "investors" has not lost hope and given up altogether but rather decided to stand by the sidelines, waiting for the right moment to jump back in. The last weeks have been particularly uncertain. Once there's a clear trend recognizable (hopefully upwards), all those Tether boys will buy back in.