Yeah, this line is a bit common piece of advice but not all are pretty aware with this line which is really helpful for you as a trader or investor but even though you are
fully aware with this advise but when you are already on the actual situation then its really hard to make out some buy if you do see a declining market.The main
enemy of yours on this kind of time is your emotions.You wouldnt really able to avoid those have doubts where you do have impressions that it might go even more.
Bottom is unknown and you would really be scared to buying if you dont have any basis.

Of course, everyone should take advantage of every situation, not just crypto exchanges hacks, there are news that can down the market, for instance the covid-19 scare last year. If average joes and institutions have bought bitcoin that time, then for sure they are in the profits as of today. But since we are in a bullish cycle, then bears should wait, don't try to short bitcoin as you will get REKT.

In crypto timing is everything, as long as you know how to control your emotions and not letting emotions control you. Real holders don’t care about the market emotions and stress they always focus on longterm once they realise the potential of an asset.

Yeah, some people quit after all those worst situations before but why we are enjoying another Bitcoin's ATH day by day.  

Not just with BTC but with other altcoins and tokens as well.

Take that instead as a positive side. If something bad happened, then take advantage of it rather than a crybaby.

This kind of news seems to be already aged now, we already experienced some of this for over the years.
Additional is this incident could also depend on how much the volume of the exchange got, and for sure the huge volume exchange has, a huge effect on price.
Some of the exchanges already have "insurance", where this insurance came from trading fees of the users on the platform, which for me it is kinda good and safe for everyone.

I mean, that's always (maybe not, but most?) the case for people who get rich. 1% effort and 99% luck, though I don't really underestimate that 1% effort since that was what caused them to get that 99% luck. Timing is the greatest factor for one to get rich, heck not even a hack, just look at what happened last year in March, that could be said to have been the perfect entry point, considering that a year after, the price was 10x what it was, getting you that much profit, compared to others who held on and invested a bit later or even earlier, they'd only get 4-5x.

I agree with you and to me also, I believe in situations like this, It is all about the emotions of the investor. Weather there is a hack situation or a bearish king of market, I believe the investors emotion plays the bigger part of weather they will continue to invest or try to find a quick exit. So if your emotions are less influential to your trade decision making, those investors will tend to hodl and even buy more as the market dips knowing fully well that the market will return.

New traders panic when the assets they own experience a drastic reduction and their intuition is to avoid further asset losses due to the bloody market. This could be because their entry point is when several candle sticks are green, and actually the price correction is going on in front of the face. Winners are those who hold or add value to their assets by buying some additional crypto when the price is completely discounted. Meanwhile, the loser is he who is carried away by emotions and only thinks about his current financial condition, without considering market conditions in the future.

Various price patterns after the cryptocurrency exchange hack are predictable and always repeat themselves. In fact, this has become a tradition like the Bitcoin halving.

Big exchanges being hacked are not going to cause a 50% drop, at best it would be a 20% drop and that only depends on the ongoing trend of that time for example if price was shooting up already we may not even see a drop.
There have been big hacks in the past that din't cause any drops at all even though people were dying to see them. In other words instead of sitting around hoping for a dump to buy you should have bought already