How could that ever make you the last one laughing? Unless you are selling each time and rebuying back in lower. Taking profits is great, as long as you have preset price targets you are happy with. I think most old timers have a target they want to hit and wait patiently for it. Some of course will never sell. I don’t think most holders panic on the way down. Why would they start now after years of not doing so.
I guess maybe what's different this time is that a lot of people will be going from being rich to not. When your 100,000 dollars went down to 10,000 dollars it's just meh. When your 10 million goes down to 1 million, that's... harder.
Either we will go towards 10k+ but we also might test 3k before that. 
