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Desperate: How long to hold out / What would you do in my situation

Hey guys,
Throwaway, for obvious reasons. I'm a regular in /pf, /bitcoin and /bitcoinmarkets but I chose to make this account because my girlfriend is a redditor too and I don't want to get any backlash by posting this on my main account.
For that reason I need to obfuscate some details of my story but I think you guys will understand. I'm in a pretty bad situation and I need some advice on how to proceed.
A few years ago I became in charge of my family's finances. One of my parents passed much earlier than expected. My remaining parent didn't understand anything about finance or investing so I naturally stepped in to take over things and try to plan something for our family so that we could be financially secure for at least 10 or 15 years, enough time for me to get to a position in my career where I could take care of everyone with my own income stream.
I started learning about trading, first with Forex. I was trading EURUSD and USDJPY primarily just with small amounts at first. Spent a lot of time on babypips.com learning technical analysis and how to extract as much value as possible from chart patterns. When I started I just used small amounts of money. My initial bankroll was $500. I ended up using too much leverage and blowing through my whole account because of some poorly time trades. Yes I know I should have used some common sense and not taken gigantic risks but I was just learning at the time. I worked at it a bit and started getting profitable. I would usually do my work late at night watching charts and drinking espressos, and there were several times that I took positions that netted me large profits so I'm confident that I've learned from my early mistakes.
Then about a year and a half ago I started hearing about bitcoin, and how it was getting more valuable. I started reading about the blockchain, and this technology that is going to revolutionize the way the world thinks about money. I was excited about it, truly. I knew in my heart that this was going to be gigantic. So I took a leap. I took about half of all the cash I had in my checking account and deposited it at Mt.Gox. I didn't use any of the inheritance money, just my own from my part time job while I was a college student.
Yeah. I know. Terrible idea in hindsight. I never got the money out before the whole thing collapsed. I wish I hadn't done it, but at the same time it wasn't a great deal of money to learn a lesson. That we can't just trust individual exchanges.
Anyway, I learned a lot during that experience. I spent a lot of time analyzing charts. I learned how to use MACD and RSI indicators. I started getting good at being able to time things and on paper (of course) I was making very good profits. It's a shame that I didn't cash out before the whole thing went to shit because I probably would have enough money to last atleast a few years.
Anyway, after Gox, I became really depressed but I still believed in bitcoin. I still thought it was going to be around for a very long time so I started looking for some more honest exchanges. I knew that what happened to me was just an unfortunate event that was unlikely to happen again. After all, Gox was being run by a pretty shady group.
After I picked myself back up, I decided to deposit some of the inheritance money in some legitimate exchanges. In total we had about $300k after medical bills and other issues from the settlement of the estate. It was sitting in a checking account until about April of this year. I decided to put in $50k into two exchanges to diversify my risk exposure. Half I put into bitfinex and the other half I put into bitstamp. I spent 7 to 10 hours a day trading.
The problem is that I've been taking mostly long positions. Every time the price drops 30 to 40 dollars I have been telling myself this is it -- this is the bottom and will take a position to make up for previous losses.
I cannot understand why this is happening. I made some serious money several times but for the past 6 months or so I have taken huge losses. After the initial 50k I deposited another 50k, and then after losing much of that, and determining (wrongly, I might add, but I don't think my analysis was wrong) that we were definitely at the bottom, I went on to deposit another 125k. So far I am down a lot. My average cost per bitcoin is around $623.
The losses just keep compounding. I don't know what to do. I'm getting incredibly desperate and sallow. I don't know how I'm going to explain this to my family. They know very little about bitcoin, but I have mentioned it on occasion and how I'm an enthusiast. I've even sent my sister and cousins some bitcoin to get them started. But now I'm worried that maybe this isn't going to work out. Every day I get out of bed and dread looking at the price of bitcoin. Because I know its going to translate into losses on the positions I've taken. I have tried really hard to avoid looking at the price but at this point I cannot take it any more.
I'm just looking for a reason, any reason, to believe that things are going to get better. So far I've lost a lot of the estate money and I'll do anything to get it back. But I'm getting to the point where I feel like I might need to get to grips with reality and just cut my losses, admit to my family what I did and try to make it up to them.
So I ask of you, please convince me one way or another (with some solid reasoning) to either sell all the coins I have on margin right now or just hold fast and weather this storm.
Thanks
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