No matter how long you decide to hold, you can't take all the profit that Bitcoin will give; you take what you can. If you are to continue with the mentality of we don't know what the future holds for Bitcoin, some people stack up and will never have to move from their wallet.
It's okay to hold for long, but we should always know when to take profit. We don't only receive a salary because we have problems to solve; there are always bills to pay and lives to elevate, and one should not feel sorry because they sell too early.
No one should depend on their bitcoin long term investment for bills payments. But if you say lives to elevate, I will understand with you. The theme of my message is to avoid panic selling. We shouldn't sell because the price is $100k, we shouldn't sell because others are selling. If you have a thought out plan to exit the market, there's no crime doing so, provided you know what you are doing.
Also, my advice is for those that sell and wait to rebuy, it might be long to see a rebuy opportunity again if the market triggers the momentum it's holding.
This is a cool advice, not for someone like me because I believe I've gotten past this stage, your advice is good for people who are still new to Bitcoin investments, we have seen a lot of Bitcoin good news in the past and since the beginning Bitcoin have always respect its four years cycle, they always rimes even if they don't follow the past.
In this crypto space an investor have to take profit even if they plan to hold for ten years to come, if I bought my Bitcoin at 70k and sold at 100k I am in profits already, I can just wait for months and buy back at the new low, maybe 30k or 40k, it's going to happen because volatility is part of Bitcoin and it will always be.
Even if all higher institutions a d central banks of the world buy Bitcoin they can't erase its volatility part, it will always go up and down but one thing as proven to be the best way to buy, when there is massive panic in the market, no one believe that Bitcoin will be back at 15k in 2022-2023 just because Bitcoin topped at 70k.