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.
Well, you can still be a day trader at this time and be cashing out even when the price is low. Yup, that’s the truth. I might be that good and I don’t know how they are doing, but I have friend who is always buying cryptocurrencies and trading them without minding whether the market is down or high, and he’s always making profit. When the market is generally down like this or up, it still makes some small up and down movement and traders are taking advantage of that, and they are trading daily and setting their own rates and making profit.
So, it’s not like this is the end. But if you’re not good at that, just do what works for you, it can be HODL, as long as you’re ready to go for it and wait for increase to sell.