Sure there is a problem with people who sold on the way down, but that does not seem to be the crux of the main kinds of problems that are likely to afflict people who are fucking around with either selling too much bitcoin too soon as BTC prices are going up and even sometimes either failing to continue to DCA, stopping their DCA or cutting back on their DCA because they are trying to play UP and down waves that may well not end up taking place in such amounts that allow them to get a sufficient amount of advantage from those kinds of plays to make them worth their efforts when maybe they just need to continue accumulating BTC without trying to play the waves.
Maybe it's quite difficult to explain because those who sell Bitcoin at low prices definitely have problems in the investment they make, such as fear that the price will fall further and there is also no confidence for them to hold it for the long term. If we look at the period last year where the price of BTC fell quite significantly to the $15k price level. Of course we see many people selling their BTC at that time and of course we don't know the reason they sold BTC at such a low price.
However, we as holder, we think they made a mistake by selling at a low price because if they waited a little longer, maybe they could get a better profit from the decision they made. Apart from that, if they play in the waves, the risk they take may be greater if the plans they have made end in failure.
This is not something easy because it deals with the emotion of the person and if they can’t first control that emotions, they will always sell at a panic hoping that they’ve escaped the market volatility into not losing all of their money. The reality of such action is that they will be at a loss already, since the market already gone in contrary to their expectations and loss some money already. At that time a BTC worth $100 for instance would have been less than $100, but the number of BTC holdings will not change; that is were the narrative of 1BTC will always be 1BTC as long as you don’t sell them out.
If you’ve started DCA by then, it was suppose to be the right time to accumulate more when the market was on downtrend and the value of a BTC would have reduced drastically. If you’d bought a $100 worth of BTC earlier, buying another $100 worth of it this time will give you more number of BTC to add to your holdings at the same price. With this action, you’ve now leveled your portfolio and brought a worth of BTC in the portfolio at a price less than $100 each when calculated. The conclusion of it is that you will earn more BTC in a year time than the one that doesn’t do DCA but only buy at high price and sell at low price due to panic.