I do agree with this part of your comment where you said patience can make a big difference, but I don't think it's right to say by holding Bitcoin for long term will automatically means that investors will not lose money. The fact still remains that the price of Bitcoin can drop heavily, and some investors might end up selling their Bitcoin because they need money. But I believe the bigger problem is when an investor actually buys Bitcoin with money he or she cannot afford to leave for long term.

When an individual end up investing into Bitcoin with money they really need for necessary expenses like rent, food or emergencies, every short term price movement can force them to sell at a loss.  So I think it's not just about holding your Bitcoin for long term, but also about knowing your financial capacity before investing.

People who don't know much about crypto, can still get rich by holding bitcoin but it can not teach you how to handle the money. Some people earning money by holding btc and other people losing their money by using leverage of panic sells. So it's clear that the rich or the poor is not only depend on btc but also on how a person handles money. I think the most hardest part is keeping the money rather than earning. Bitcoin can provide people many opportunities for financial improvement in life but we also need to have patience and careful while managing money

Bitcoin has worked in a positive way over time for people who have become rich but not knowledgeable by just holding Bitcoin, but the price increase has worked in a positive way. Bitcoin is not a guarantee of wealth. A person can start with a small amount with very little knowledge and if he can maintain consistency, without panic selling, he can be in a better position than a trader with strong cashflow despite his low income and knowledge.

And the leverage and panic selling that you mentioned can also be considered a big reason as to whether a person can actually profit from Bitcoin or not. At the same time, if two people start investing, but one person is occasionally selling some part of his Bitcoin holding or panic selling occasionally when he sees the price suddenly falling, and then tries to buy Bitcoin again through price prediction. But the other person does not do any such unusual activity he is continuously accumulating Bitcoin with a long term mindset.

So naturally, a person who is not panic selling and not making short term price predictions while accumulating Bitcoin, will be in a good position. Bitcoin investment is a long term process, where you have to keep yourself financially capable and mentally calm.