Thanks for the elaborated input!
So from 2016 to date, you have not bought any only selling?
I feel like during the downs, most have sold out. The whales scoped up and took it to new highs and when fomo kicked in, average joes jump back in and the whales dump the coins and the cycle starts again.
People who held onto Bitcoin for more than 5 years are the true believers. Everyone else are only speculating and only get stung by the big players.
The last time I purchased Bitcoin was in 2012 (at that time, the exchange rate was around $10 per coin). Occasionally I received coins through signature campaigns and other avenues, but never purchased any after that date. I regret that I sold most of my coins when the prices were low, but you run out of patience after so many years. Fortunately, I still have some coins remaining in my wallet and I am happy for that.