Great post, I tried to warn people this would happen and they said I was spreading fud. Now they are stuck hodling bags because they bought BTC and altcoins at the ath. I tell them to stay positive and you only lose when you sell. If you're at a major loss and don't want to cut your losses just hodl no mater how long it takes until you get what you invested back. Perhaps by then its a good time to keep hodling to gain profits.
Look at what happened in 2013 leading into 2014. We saw a two year bear market that dropped the price of BTC from over $1,200 to under $200. Since then the price has gone 100X so we could see prices drop even further before the despair finally subsides.