Life changing wealth is created by holding investments over a period of years, not weeks or months. For those creating substantial wealth in crypto right now the current correction is a flash sale to be bought aggressively.
Like any other investment there is no loss until you sell. Assuming the investor has done their due diligence and has invested based on fundamentals there is nothing about these types of market movements (coordinated dumping by whales) that alters the fundamentals behind the original investment. Ie. you don't sell because some rich jerks are pushing price around for their benefit.
At this point my advice is to look at crypto as a 2-3 year hold and the only reason for selling is re-balancing (ie. BTS spikes 1000% and suddenly is 90% of your portfolio) or new tech replacing old (EOS replaces ETH). Otherwise just ignore the ups and downs as noise/entertainment. There are a few very wealthy individuals who are manipulating the shit out of the crypto market. Every time you panic sell you make them wealthier and give them more power.
Hodl and prosper.
RE: Crypto Investing: Think Long-Term