As an old timer, that hold mentality no matter what cost me a lot of would be profit earlier this year. I had just never seen such massive growth, new situation, yet I was with the "hold no matter what mentality." I do agree to buy the dip, but the overall tone of hold, hold, hold can blind you. I say continue holding, but also take out some as you need.
We all got fooled by the market, no one saw it coming, I have since modified my strategy to hold but sell off some portion when I see significant profit, and never ever a position or exit one all at once, flow with the market sentiments generally
I don't know, people were piling on shorts once it got past 15k last year... It was bound to burst eventually but no one knew when. Markets just don't keep going up like that. They have to dip back down to regain energy and find a reasonable price. It's impossible to grow at such immense numbers for so long, no matter how brilliant the concept behind it is.
Once the market establishes itself in a comfortable range (like it is now), it gets ready to go up again. But don't hold your breath for 30k this year