I am on Bitcoin for long-term, this correction gives me the great opportunity to accumulate my long positions. I might accumulate my long-term position between $8000 and hopefully $5000.
During this correction, don't ever chase high or sell low. Remember, there is always a significant rebound after a panic sell-off(usually down 30% to 50%). So, look for the support levels, stick with your plan, take profit from the rebounds after sell-offs.