To me short-term investment ain't encouraging at all the risk in it alone is too much compare to that of long-term investment. Like for instance someone that lacks the ability to be patient (because I believe short-term investors are really impatient) , and endup buying bitcoin at the peak and then a massive dip followed it , that individual won't have the mindset to keep buying and holding instead he or she will endup selling in loss because they lack the patient, thinking he or she has cut their losses.
But for those that are into long-term investment, instead of selling in loss they will continue to buy the dip , because they believe in a long run they will endup with the last laugh , so they will keep accumulating and holding , and if later on the price's endup risen (surging) they will endup with a far better profits.
That's how people who do short-term he will be trapped when buying at high prices and selling when it goes down because of impatience then he prefers to lose rather than hold it, for this kind of strategy will not be smooth what we imagine buying when it goes down and selling when it goes up is not easy actually.
Investing long-term in the end, investors will get a big profit, this is a patience from holding for a long time while continuing their accumulation, try to imagine that we accumulated when the price was $20K until now the profit has been 3x, that's not enough if we hold it longer, it could be a profit above 5x that is obtained.