snip
Now my other question is are there people that have say 10 btc or more even and are living paycheck to paycheck and have close to little in the bank but just pays their bills every month but just keep their btc as their life savings and rarely touch it unless you absolutely have to? I got to assume very few people are like this right if they have say 10 btc or more? Let's say whatever amount of money that person make a year and after taxes, they barely have enough to pay their living expenses and they are lucky to save even $1000 a year to put in the bank. Let say this person has $5,000 in the bank only which isn't much for most Americans but then again, a good portion of Americans don't even have $1000 in the bank.
i'm sure there are members on this forum who continue to hold on to the bitcoin they have for a long time, they do that because they don't need money by selling the bitcoin they have, they must already have a permanent job out there that pays them well. i always tell anyone that the best way to get good profits from bitcoin is by trading, investing or opening a business related to bitcoin. Michael Saylor is a good example of a bitcoin investor who until now has not sold the bitcoin he bought through his company Microstrategy, he can do that because his company has made big money from their best-selling products.
Yes, really depends on the individual on how they will look or how long they are going to hold. For sure we have a lot of long term holders here, who might not have sold even if we reaches all time high because they don't need the money and they just wanted to hold as long as they can.
But for the majority of us here, let's say average joe, it's good to at least experience one bull-bear cycle, buy and then hold and see how it goes for you. If you don't sell and take profits then good for you. But I think and this is just my opinion that there are investors that are going to sell their stash at any bull run and then take the profits and enjoy it and then repeat the process.