If it does reach $8k, I guess the price will go down more. But it’s hard to tell. Long-term investors should sell and rebuy again, while for short-term investors it can be beneficial since bitcoin has re-bounced and reached back to its levels.
The current price of Bitcoin is $19k and if I see it lower than $15k to $14k I will try to sell it as the price may drop further. But if it goes below $10k I will try to buy as much as I can. Because I believe in Bitcoin. I know all will be well and then BTC will move positively towards its previous position again.