That sounds like a trader speaking, and we should not presume that people who buy bitcoin are traders.
There are a lot of us why specifically recommend not to trade bitcoin, but instead to long term invest it, so in that sense, you do not have to focus much on selling it or when you sell it, until after you have accumulated enough and perhaps been in it for a long enough time.. so then the decisions about when and how to sell could well come later, even 10, 20 or 30 years after being in it...
Yet, of course, it would be difficult to suggest that anyone buying bitcoin for 10, 20 or 30 years not think about selling at all, since the selling kinds of considerations would likely have to do with the person's situation in terms of how aggressively or whimpily he might have been accumulating BTC in light of his own financial and/or psychological circumstances.
Hmm, JJG I was expecting haha if you are active I'll get this reply, anyway, it has been a long time since you've made a quote on my post, cutting the story to a focus point, yup my response was from a trader's perspective as I do acknowledge that 70% of newbies and investors enter as a short term trader they don't care about the Bitcoin's potential and returns in even a time frame of 5 years to 10 years. We can roughly find 5 out of 100 people who are serious about the long-term accumulation as you are saying, for the rest of 95 they are just trying their luck without even realizing the facts and figures.
I have not yet seen anything about 47k BTC being accumulated, but yeah, surely in these times, it is may well be easier to NOT to be surprised various kinds of ongoing buying pressures.
Well I can add the reference but I know it's not worth it, any still here the references I've not gone through the entire blog just scanned it with the headline
“Bitcoin whales accumulated 47,000 $BTC in the past 24 hours. We’re entering a new era.”