Just what I was looking for after discussing about the dropping prices earlier with some steemians. I agree. Usually, panic selling ends in regret. It's even just in cryto but other things as well. The idea of cutting losses early. I think your advice is sound and instead of panicking, this should be taken as an opportunity for longer term investments.
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As long as you think something is going to survive (and even thrive) long term then cutting losses doesn't apply so much.