There was a bloke on here a while back who panic sold all his BTC at 400 as the money was meant for his honeymoon, and he had lost a lot.
People commiserated with him for having to sell at the bottom of the market (at the time).
Seems like quite a good price nowadays.
It's all relative. Some one who panic sold at $1,000 in December 2013 would now be an investment hero, being able to buy back three times as many coins as they sold, as the value of the dollar has gone through the roof (in BTC terms).
But then someone who panic sold a few months before at $100 would look like a right muppet.
You have to think about the now tho. He could enjoy a great time now, or hope that Bitcoin survives this horrible crash and maybe have a good time.. when is 60 years old, that is if you make it that far because you dont die from an accident, illness, or world goes to hell in a ww3 scenareo before.
Long term gains can be good but the wait is so damn depressing. If I had 400 BTC I would have sold at least 100 by now, too bad I only have one so i'll die poor.