One of my close friends lost everything based on this mindset. he lost all his Cryptocurrency and fiat assets, and I have no one to blame for this, except himself. Throughout the 2018 bear market, He accumulated as much BTC and ETH as possible. he believed in the technology and financial freedom that it offers. He studied at the university, He had a part-time job and most of the money he earned (even student loans) he invested every month in the purchase of Cryptocurrency. Despite the fact that the bear market reduced the value of his investment portfolio, he continued to buy, because he was sure that in the future it would pay off in one day. he was in my last year at university and thought that the Cryptocurrency would at least help him pay off student loans but he has nothing left now. he hasn't any opportunity to repay his student loans and he doesn't know what to do. Don't think about price recovery and follow the bear trend.
I don’t understand you, has he sold all his coin to panic that made you feel he has nothing left? If he has not sold his coin, and based on what you have here, he invested in the most promising two coins which also happen to be the kings of all coins, I don’t think he has lost anything, he might have made some mistakes of not selling during the last all time high which majority of us made also, but I believe that he will surely recover this price back in future.
I would not want you to give up on him yet, there is still very big light at the end of the tunnel. I have some investment in bitcoin that I am not also touching even if I see some increase now until in the future when bitcoin eventual hit the highest peak, and then I will be among people who had investment in bitcoin till its highest peak.