It's easier said than done though, many could be in panic if they see that they portfolio might be going down hard so instead of buying in the dip, they sold and take a lose at one point in time.
And I think this part of being in this industry wherein emotions play a big part.
Now the price is somewhat in the $40,000 region, which is still a good indication that we are not going to fall further or even reaching the lowest low. We still have a good chance to even go as high as $45,000 again.
If you can't handle your emotions and end up selling when the price goes up, the mistake is very obvious and you should be aware of it. If you are aware of your mistake and you realize that you shouldn't have sold when it is going down then you could recover that and learn from that mistake and be a better trader in the future. However, if you can't see the mistake and you keep on doing that maybe you should stop trading.
I mean trading requires iron clad will and you should be able to do a lot better. I get that you may not be able to do it, it's ok, you do not have to be a trader. Just be a long term holder and stop trading and just buy and hold and do nothing else for a decade.