I agree.
Tuesday afternoon UTC, the coin went up 25% in 1.5 hours. The hour after it dropped 20%. If any fiat coin were to crash 20% in a single hour, there'd be global uproar and markets would crash.
I believe cashing out is the right thing to do. "But what if the coin goes up?" Well, we're still here, just earn more!
I think the BTC going down is in general cooling people off on other cryptocurrency in general. Yes, at a later stage it might lead them to search BTC alternatives, but for now, BTC is the face of cryptocurrency, and all other coins will be affected by its success, which was a bit too fast over the past month.
I try to not worry about it overmuch myself. When you can cash out, wait for a spike, otherwise, while the money is still in the system, there's not much you can do about it, so also no real reason to worry, because you don't actually have the money, it doesn't yet exist, so to speak.
And yes, fiat is still the safest place.
Interesting thoughts. I covered the bounce live. I give my thoughts on why, what to do next, and where we are all going. https://steemit.com/dtube/@jacobts/sed7mw0a