I guess my personal story of 2016-2019 fits well to tell here also as I have already told it in another thread here in the mining alt.I entered late 2016,early 2017 in the mining game and things were going well with my rigs of old generations of Rx 470/480 and later on that 2017 year with Rx 570/580.All seemed well until the January 2018 came and it let every body,especially the newbies who had just started in December 2017 after the all time high wondering.Well the newbies immediately sold their devices at a loss while I insisted to continue mining even at a loss and I also convinced my friend as we were two people in this.After many discussions he was convinced and we continued mining until April/May 2019 when we had accumulated enough Bitcoin and let them rest,shut down our miners but didn't took Bitcoin out until 2021 in February where with the amount accumulated we got back our investment,invest in a new mining rig and also have like 1/4 Bitcoin left standing there for when the price will sky rocket again.

The difference between newbies and us that had a couple of years experience is we were or better I was prepared for such scenarios but in the long term I was firmly convinced that it would work out great which it did.I give the same advice now to newbies as the OP,if you are not for the long run don't even bother coming at mining at this time.