When bitcoin drops to $30000, this is a disaster for most traders who buy bitcoin and altcoins at a price high. We didn't expect bitcoin to fall this low, so causing altcoins prices to be dumped very deeply. For traders who have already lost over 25% in trading, then it is best not to cut losses because it will make lose some capital. So believe me, the bitcoin price will back up again and altcoins price will rise again.
For traders/investors who already been here for years they know the best decision to commit in times like this. The market is high volatile thats why its inevitable to witness a situation wherein most of our coins are losing its value temporarily.
Thats why its a must to fill our minds first with knowledge on how crypto works to be aware of the possible scenarios that can occur and be prepared as well.
Keep holding and dont panic, in time, all your efforts will be worth it once the bullish market hits us again.