I've been dabbling in crypto for about 5 months (still up around x20 even now, during this crash) now and have learnt a lot about myself during these dips and crashes. I have tried many coping strategies and have a few good ones I'd like to share! But before that, here's a little story about my first crash.

My Very First Market Crash

Not long after I started in cryptos, was this crash.

Market cap fell close to 50% (like it has done during the last few days)
I panicked and sold everything at a massive loss and monitored the market, fell for every bull and bear trap and ended up suffering a 70% loss of bitcoin value by the end of it ( think FIAT-wise, I lost more than 80% of my capital). Since then I've seen a few more big and small corrections and I'd like to share with you 3 ways to cope depending on what type of person you are and what position you're in.

Number 1) Just hold

For the inexperienced and not toooo much to lose.

I would say I fall mostly under this category. I try my best to just stop looking at the charts and just do something else productive with my time while this all settles. I don't have any disposable fiat to chuck in so i don't care when it dips. I have a lot of money in cryptos but even if it dips another 90%, I'm still in the green.

I have faith in cryptos and the future of this tech, so I'm not worried this is the end, because I am sure it's not (not financial advice haha).

Number 2) Sell half

For those with large amounts of capital in here who have a lot to lose

However, if you're someone who has invested a lot of capital by mortgaging your house or done some other (stupid) thing like that, you might want to minimize your losses in case I'm wrong and this is somewhat the end. However, if you sell you might be tempted to put it back in during bull traps, so if you sell, make it a final decision in case you get baited and lose even more.
(Bull trap is a false signal a bear trend is reversing, when in actual fact it will keep being bearish)

Number 3) Day trade at peaks/dips

For the most experienced (who probably wouldn't be reading advice from a somewhat newbie anyway)

This is how you can make money during dips. The volatility is insane during these dips and day traders who are experienced make massive amounts during these times. I went from 24.91 to 26.17 eth during this dip but lost around 10NEO due to bear and bull traps and emotional FOMO. I suggest NOT doing this unless you're doing it with a very small amount of your investment or you're experienced... but if you're experienced you probably won't even be reading this post haha

Final reminders

Remember to stay calm... blockchain technology isnt going anywhere any time soon.
However, we never know when the end of a dip truly is, if you have over-extended and have too much invested, remember to consider cutting your losses.
Finally, life isn't all about money. Don't forget to enjoy what you have, be it health, family and yourself.