There are several things that could be done with it instead of holding it and hoping that the value back to where you purchased it
can you please tell us couple of them? day trading is risky, investing to dice-site is risky, cloud mining is unprofitable or ponzi, gambling is mega risky..I really don't get, what you actually mean. Maybe I'm just conservative or something, but waiting to recover seems to me no-risk most feasible way how to deal with loss..
I have already said somewhere (and probably exactly in this thread) that one of the simplest strategy to deal with a loss is to sell some small part of your Bitcoin holdings (say 5-10%) now when the price has risen a little from its support levels, and then wait and see. If the price continues to grow, wait for an increase of, say, 10-15%, then sell again. Since it is highly unlikely right now that the price will rise more than 20% without a significant rebound, you will be able to buy back when the price reverts for the same 10-15%...
And you can do the same with smaller parts of your hoard, thereby taking chance to profit from smaller rebounds (potentially down to exchange fees)
You are still playing a guessing game and hoping you are selling at the top of a run and hoping you can get back in lower. From my experience I can almost never time this right.
Look, you are already at a loss, big time, as the title assumes. So, if you sell a minor part of your stock and the price goes up, isn't that what you were looking for, to begin with? Since you sell only a small part, you would still be better off than if the price didn't change at all. Thereby, you are taking advantage of volatility, independent of the actual price change direction...
