The loss is on paper as long as your money is in a currency other than dollars, because just as the currency suddenly went down, it can suddenly go up, but the dollar will remain the same!

In such circumstances and the sharp decline in the markets, whether currencies or stocks, the decision to sell is a crazy decision, even a disastrous decision made by many traders, claiming to reduce losses, while the truth is that they are the ones who cause their own losses. The rational, balanced decision is to wait and try to exploit the decline by adjusting to reduce the average purchase price, so that after the decline ends and prices return to rise, you have a higher chance of profit and benefit from the wave of rise from its beginning.