I remember a few years ago when the price broke $20,000 it kept going up to $69,000 but then it dropped to $15,000, so I learned a lesson from that, and the lesson was that whenever the price goes up a lot after a halving and there is some sign of a drop I should sell everything and wait for it to drop a lot and hit the bottom so I can buy again and hold for years. I know there are a lot of risks in this but I feel comfortable using this strategy. That's why I don't see selling as throwing in the towel. I always think that we have to know the right time to buy and the right time to sell.


source: https://cointelegraph.com/news/btc-price-liquidates-200m-bitcoin-risks-66k-pullback

and analysts are already making their predictions

Yeah, but BTC is still risky in its own way, it can rise quickly, but it can also fall very fast, and there are so many investors who will panic whenever the price drops, because they cannot handle it. However, we can agree that some investors will prefer most of their money to be in something less volatile, like Gold for example, maybe because of their age or their desire for risk, even though they know the reward in BTC is greater in the long period.

All that is required is a little bit of understanding, patience and realising a goal.

Understanding - Bitcoins 4 year cycle and the fact that the markets dont do either
sideways, Bull or Bear forever, they come and go in cycles.

Patience - with the understanding of the Bitcoin markets we have to realise if we
want a medium to long term outlook we have to be patient and not succumb to
panic just because the market doesnt do what we want at a certain time.

Goal - set a goal for either taking profit, HODL'ing or cashing out which should be
easy with understanding and patience.

How can you throw the towel when bitcoin so stable on range of $60k that time you posted which is good indicator for better future. If you are being not patience better go and do something else and don't mind bitcoin price until december.

True that, diversifying is good if and only if the other investment is also good.  It will only become bad (diversification) if other investments are put into shitcoins and scamcoins.  Like for instance we are invested to Bitcoin and decided to invest in other cryptocurrency then without thinking we just invest on any new projects that is obviously for money grab.  In this case it is much better to just stick to Bitcoin than diversify because more likely those other investment will fail.

As for giving up on Bitcoin, I never have any glimpse of thought on that.  We have been on the crypto sphere for a decade and we have seen how Bitcoin performs.  So we have some understanding about this ups and downs being normal especially the sideway movement before the break out.  It is like a calm before the storm.

It is not throwing in the towel if that was your plan all along and you basically got what you wanted at the end. Some people were forced to sell their bitcoins due to financial instability and never bought again in fear of not having a successful investment. Now that is what I would call admitting defeat to bitcoin. It is unfortunate but I am sure many have experienced this.

Meanwhile if you are already satisfied with what you have done and earned from bitcoin that you stop accumulating or holding then that is okay too. Though I am going to be honest and say that I do not understand anyone who will not continue to buy more bitcoin if they can afford it anyway.
Yes exactly that. Probably forced to do so as well. I can't imagine someone admitting defeat to bitcoin if they see how they profitable it can be.

Totally.
It all goes to show that you are free to do and utilize BTC as an investment or something else as you please - nobody pushes you to put your money on it to be in a good position, it should be done responsibly and with a plan in mind to be successful.

I always believe that Bitcoin wouldn't fail me, and it would surely climb higher, it might take time or goes down, but I am sure that it would recover and go higher than it had.
So I didn't really get those feeling of throwing the towel.

Another to consider is investing not only money but also time knowing what you are engaging yourself with. Problem is that, many people are still just looking to the part where Bitcoin's market value will reach ATH but not the progress and length of time before such thing is achieved. Volatility exist and that should be an enough reason for holders to be patient of the market. There are many factors affecting the market price and demand and that should be enough to make yourself aware of inconsistencies with profit. It is easy to desire of profit but it will never be, on reaching a particular goal.
Good thing that you are not having such ideologies and for sure it would be rewarded over time. Bitcoin has proven itself to cross numerous price ceilings and it will just do so given that it is now being known by more people. Also, it is normal to be in doubt sometimes because that's subjective. What will matter the most is your actions towards that realization whether you will let fear to shadow your investment goal.