well you would have to sell lower (430) and hopefully buy lower. Do the math and decide if it all makes sense.
Selling now at 430. If sold at 430, then you take 120 loss per btc. If you think it will go to 310 (which would be a break even point....if my math is correct) then consider doing so (remembering it was 339 ish a few weeks ago....might or might not break that)
Your math may be flawed. The price doesn't have to drop to 300 for him to break even.
For example, lets say he invested his 55k @ $550 (100 coins) with the hope of doubling his money. Easy if he holds; just wait unit the price hits $1100 and profit
55k.
However, he could sell now and take the 12k hit (ouch). And let's say he either gets impatient or he catches the bottom at $380. Doomed, right?
Well, not really. 43k @$380 nets him ~113 coins. If he sells at the same time as if he had held ($1100), he'll have 124k.
124 - 55 - 12 =
57kIf he "catches the knife" @ 300, then his profit will be
90k.
So whether or not it is a good idea to sell now depends on
both when he buys back and when he sells. It is only riskier to sell now if you believe $430 is the bottom and your not willing to wait to sell when it does go back up (if he buys back in @ $400 for whatever reason he will have to wait
all the way until $1150 instead of $1100 to "break even").