For me, I think financial stability works behind our success in life. So same goes for Bitcoin investors as well. The rich person could invest for a long time. He doesn't have problems even he doesn't sell his holding even during very bear markets. A financially stable person even could hold 10 years. But like us who are small investors, we aren't stabled financially. As a result, we don't when we have to sell our holding for need. That's how we become losers even we intend to hold for a long time. I am a real example of that recently.
Yeah, we need to be financially stable so that we could make long term investments which must be too essential for making big profits out of bitcoin investments. If you do not have regular income and you are not financially stable then you may disturb your long term bitcoin investments before the planned time duration is achieved. It means your planned long term investments may get into a sort of short term trading which may even suitable to concise as active trading as well.