Bitcoin adoption is a marathon, not a sprint. A lot of things still have to happen before it can start really penetrating the mainstream and in the meantime, the volatility will continue. This is something you need to take at least a five year outlook on. Some people day trade and they take the short term view, but in my opinion, the winners will be the ones who stuck it out.
I agree it definitely is more about perseverance and long holding than short term
Lots of people lost money in 2011 in 2012 and in 2013 and bitcoin still exists and has been growing stronger
No reason to back away now