I agree that anyone could be subjected to price pressures, and even uncomfortable feelings when BTC prices go down more than 50% and stay down for long periods of time, but it would be an error to speculate that all investors are impacted in similar kinds of ways - because there can be both a lot of value in time investing in a variety of asset classes and having wealth in a variety of ways that might cause a person to be less concerned about great losses in the quantities of BTC wealth when they have their wealth secured in other ways, too.
You are absolutely correct, sir. Both in Bitcoin and other investments, when they remain unprofitable for a very long time, the investor might feel uncomfortable about them. But when it concerns someone who has different financial sources of income, they can only have that pressure for a short time, but after the thoughts slide off their mind, they get occupied with other sources that are generating income for them.
I can say that most people investing in Bitcoin are handling it in such a way that price volatility during the bear market really makes them so uncomfortable, probably because Bitcoin is just where they have all their investments. Personally, I think it is wrong to just have one source of income, particularly internet-related. One can invest in bitcoin and other physical assets.
We have this guy in the city where I live that is nicknamed "Virus." This guy has a lot of investment to the extent that on every day of the week, he receives up to $500 from different means; he has a lot of taxis and drivers that are running the taxi for him; he's into Bitcoin as well; he deals in car importation; he has a series of income sources; and even if the Bitcoin price is so low, I know he might just have a temporary bad feeling, but after some time, he will still be cheered by other inflow of funds to his account.
I used the guy as an example because if some Bitcoiners use that approach to invest in Bitcoin, they will not be deeply concerned about the long bear market as if their lives only depend on it. Above all, I know every person cannot be the same, act the same way, or have the same strength as others who can hustle with full strength to fix different income sources for themselves.
Bitcoin is just buy and hold! Hold until we have the profit that is desired.
Well, yeah if you have one reliable source of income, then it might not be so much of a big deal, if various traumas might come in the market, but at the same time, we cannot even be 100% sure that our "reliable source of income" is really going to be reliable under all possible scenarios, so it would tend to be good to have some other income sources, or even somewhat liquid assets upon which value can be drawn in the event of an emergency (or shortages in cashflow/increases in expenses).
We might not realize how correlated some of our expenses, our assets and our cashflows might be either, until some kind of a crisis event hits...
One thing regarding income sources that might come from working, sometimes it might be more feasible to attempt to find a new job (or new income source) while we already have a job, and in that regard, any of us can look like a better candidate for a "new position" when we already have cashflow options and we are not in a potentially desperate situation. On the other hand, some jobs are physically, mentally and even time consuming in such ways that it may well be better to drop that income source when searching for new and/or better cashflow (income) opportunities, and/or it could be the case that some opportunities might not come to you unless you really are able to gear up towards whatever new income that you are seeking (could be retraining, could be learning new things, could be working on presenting a new package and even demonstrating skills and abilities to learn in such new area that contributes to your appearing to be a good candidate for the new kind of work.. and implicitly there might be some circumstances in which a pay cut might need to be taken to progress to a higher paying job or even sometimes a paycut might still be a more valuable kind of a job if you are not having to spend as much energy and time on it or alternatively that you get a lot of pleasure/meaning from the new work).