I know people who engaged in this practice and at first it looked like good business and easy money but as time progresses, they usually come back to face reality which is that they have ran out of Bitcoin or have their Bitcoin portfolio depleted with no way of accounting for the profits made. This happens in two ways, the first of it is that when they buy during bear market and sell during bull market, some usually keep this money in their bank or in stable coins and every now and then they will always see a need and will use part of the money to meet such needs.
A good investor will always know that his investment asset in not what he can use on other purpose, even the realized profits are expected to get back into the investment in other to have more chances on earning more from the additions in them
Theoretically it may seem plausible but that is not always the case as the temptation is compounded when you convert your Bitcoin to cash that is stashed in the bank. Besides, holding cash for two to three years waiting for the bottom of the bear market, which is what many people do, is not easy. Instead of the problems that this method carries, which have been abundantly elucidated, why not simply HODL because what you supporting is not different from position trading because the life cycle is less than 4 years.
we have to maintain a unique kind of business model and this ethics is to maintain the boundary on what we use our intended investment fund for, we cannot do without attending to some needs as they may even come in urgent to us, the reason why we are expected of having alternative to our source of income, when we invest, we buy the dip, hold and when the market rise, then we sell, we do this over and over again.
In other words, it is buy low, sell high for you. Well, that is not different from trading and I do not have problem with that, just that it may not be the focus of this thread because it is long term investment that is being discussed here.