For the investors in cryptocurrency there needs to be distinction from the majority of parties involved. If you were the ones selling for losses and not HODLing in the recent events of the last couple of days then this is not for you.
We experience these dips and what would be the equivalent of a crash, if it were the stock market, but this is NOT the stock market. You should always expect to make massive gains one day followed by a massive selloff but if I look at the recovery prices that I'm at now compared to a week ago, I'm still up considerably.
This maturity needs to take over your being as you purge yourself of emotion. Had I let emotion take over I would have sold two days ago and wound up with a small gain but now I'm approaching half of the gains I saw a week ago and within another week, I'll be passing my previous all time highs.
This market is quick. Full growth potential on what I own could easily land me above 150k this year. I wouldn't hold until it hit that, I in fact plan to take 10k profits on the way if I'm launched to the moon but everyone needs an exit strategy because no one wants to get caught holding the bag at the end.
A lot of these currencies are overvalued and we will see a purge of coins. We all need to start thinking about conservative ideas of what we will do with profits, when we will take them and forget about the concept of a lottery ticket. This is not gambling, this is investing. You're investing in yourself so what do you want to do?
My first cash out of 10k will be used to launch a home inspection business. My next will be for a down payment on a home. My third will be for a new vehicle. Then on my next cash out, I'm taking it all and shifting to the tax free stock market. Plan accordingly. Investing with emotion is called gambling and the house always wins.
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."
-Aristotle