It is generally accepted that you should never sell your bitcoins for anything less than a price, which is multiple times of the ATH of the prior boom.

- If Bitcoin is in its growth channel, and you panic sell in the bottom, it will cost you most of your bitcoins when you panic buy at 5-20x higher after realizing you were wrong. (If you panic buy threshold is lower, you end up always buying high and selling low, and diluting your holdings.)

- If it it destroyed, you have no way knowing it and being able to salvage the high point of your value. Salvaging a low point, is meaningless when the same outcome in fiat terms can be achieved by selling a few %-points more in the previous boom.