Bitcoin should be viewed like any other investment, make a clear investment plan after a detailed market analysis and have a clear exit strategy, and stick to it until the end.
The biggest enemy of every investor is his emotions. Everyone must learn to control their emotions and make rational decisions.
Those who have known Bitcoin for a long time already understand how it moves. So too much panic it won't happen to old people, I think only new people will become impatient. The old investors have experienced a period of halving that keeps repeating itself, it will be a strong foundation for keeping a belief. As you say Emotions are a major factor in trading. When you are able to control your emotions then you can become a good trader. In fact, I am currently 7 years old in Bitcoin. But That emotion is so hard to control, I'm still learning at the moment.