It's way too risky to be out of bitcoin right now
It is also risky and will be regrettable if we don't take advantage of this dip in price of bitcoin right now. It is also risky to want to buy bitcoins now and not have an updated knowledge about how to buy profitably. It will be risky also to get scared and bail out on bitcoins now because it may not look promising for the shortsighted. Likewise it is risky to keep holding bitcoins. Bottom line is choose your risk wisely.
Everything is risky as it is so always take the risk one step at a time. If you think this is the right timing to start buying bitcoin and invest for long term, then go for it. After all, the best time to accumulate is when the bear market is happening. And selling can only be done when you will sell at a profit. And that will eventually happen once the market turns bullish, where most of the coins have positive proves.