I'm not willing to take the risk of missing the boat for another few percentage points.
This is a good point but it is possible that the price is still going down another 50% so that's not only "few percentage points". However it's also possible that $2 triple bottoms and we never see $1.x again. This is why I'm also thinking of a partial re-entry at this stage. Not even thinking about all-in yet, but I think the current situation warrants a partial move.
But look at the people who bought in at 25 or higher. If the price drops 50% from where it is now, to them it is only a 5% drop. They are already down 90%, what's a couple points more? Especially if they are "smart" investors and only put in what they were willing to loose in the first place.
Dead on (though I did not really get going with Bitcoin until around the time of the Mt. Gox outage thank God, and I bought a majority of my holdings on various large dips so my loss is much less than I would have thought.) Lemme add a few things from personal perspective.
I based a lot of my decision to own Bitcoin on certain fundamentals which have really not (yet) changed. The seeming robustness of the system, the usefulness of something which could be easily transported around the world, the non-single point of failure properties, etc. I was dead wrong about how low the demand could get, but I've no reason to reject most of the fundamentals behind my decision.
I consider anything less than several years to be 'short-term' and did not really expect my interest in Bitcoin to be short-term. I am only a short time into my anticipated involvement. Again, I did not expect to lose so much USD so quickly, but I also put no more in than I could easily afford to part with. It's just that I expected to kiss the money goodbye if Bitcoin was cracked rather than in a general market decline. Oh well...the net effect is the same (although the market could re-bound which is more likely than if there had been a terminal exploit to the Bitcoin network.)