There's no need to be afraid; all you have to do now is make some adjustments. China's news is merely another example of what has happened in the past. Things will be OK in no time. Man, if you're going to sell for less than you paid, that's your loss, not anyone's.
Deciding to sell at a loss is a personal decision and it is the same as a person who wants to decide to take a profit when there is a spike in the price of the coin he is holding, so it really doesn't matter as long as his decision can be very right.