,of course we could not blame anyone being panicked in times like this, but hopefully it doesn't reached to the point where they will really sell immediately because of the red blood markets as of now. this doesn't mean that bitcoin is over, we cannot also say there is nothing to worry about it because there is no assurance to what also might happen and it is also unpredictable, even I was also panicked since these drops began, but what else can we do, we are risking something so we cannot just possibly back down.
the fact that the market is red means people are selling
So they already did that mistake, further causing the decline.
Personally I'm up to a point where the losses are so big that I'd rather hold on the off-chance it pulls back up. Even if it doesn't at least I won't be sorry I sold like a noob.
Disclaimer: I invested what I afforded to loose, which is why I'm comfortable with an all-or-nothing approach. While I do feel a little down, loosing everything will not change my vacation plans for this year or delay any mortgage payments. I'm in no way financially worse then I was last year.