The OP is like a textbook case for the despair phase.
But..... But.... Mike Novogratz said that institutions could to lift the price to $8000 this year. In other words, we have waaay more to go down if he's still a counter indicator. 
Any 2017 buyers who managed to hold on this long should X out the chart and walk away for 6 more months. It'll do em good.
Or just sell and be done with the suffering because most people simply can't handle the stress that this market subjects them to. It's all cool when the price keeps going up, people's confidence in the market and Bitcoin grows, but as soon as we're heading South, things change. I can't even imagine the level of stress they have been going through last year, and perhaps even this year.In most cases, the weakest hands are the first to dump during corrections, so if that's what they did last year, they did actually pretty well if you look at the price right now.
They'll be suffering a lot more if they sell now at the bottom, only to watch the price start rising later on and realize they did the dumbest thing possible: bought at the top and sold at the bottom. Other guy is right, anyone who lost a bunch at this point should just step away and ideally come back in a couple years to see they have now made money instead of lost most of their money. Doing what you suggest is literally what I did in 2015, after months of the price being stuck in the $200s, after I bought in at the peak of the late-2013 bubble and on into 2014, I was like crap Bitcoin is done and sold it all at the bottom, then early 2017 I looked back and saw it was back over a $1000 haha. Obviously its not good advice to do that, stress or no stress.