Bitcoin is a different kind of asset compared to other traditional money and asset in the stock exchange where we can easily withdraw our profits whenever we feel like. Because of the volatility nature of Bitcoin its a difficult to know when the right time to hold or sell. From my study the price can go up a lot in value, but it can quickly drop down, So, the dilemma is; Do we wish to hold onto our Bitcoin with the hope that it will rise in value or do we to sell some of it when we see some gains, especially when the market looks very shaky in the eyes. Since holding simply means we can get more in the future, but can also risk losing some profits if the price falls.
The main challenge here is balancing between taking advantage of Bitcoin’s potential for growth while managing the risk of price drops and figuring out when is the right time to cash out or make moves without getting hurt by market swings. This is where the long term benefits comes over the short term quick gains. I can say for an investor who has invested up to 10 to 15 years he can take some little profits if he has things that are important to do. He can completely cash out if he is satisfied with the investment growth and profit and perhaps chooses to shift into other opportunities.
I find analogy with trade as you say. When you plan for the long term, the ups and downs in Bitcoin prices won't affect your investment. Your retention period will be around 4 years-12 years or if cycle is calculated it will be at least 1 cycle or more. But I personally prefer 3 cycles or longer. If you buy regularly with a 3-cycle or 12-year holding plan, you won't be affected by the ups and downs in Bitcoin prices or volatility in the Bitcoin market. Because after 3 cycles I think there may be a big difference between the average buy price and sell price of your bitcoins.
If you are planning to sell bitcoins for a small profit for a living or a temporary gain that is not set in time, then the volatility of the bitcoin price may affect you and you may lose a lot from now on. You may be interested in hoddling with the idea of temporary gains, where you will be able to build a much larger portfolio and Bitcoin is more likely to give you better returns. If you are not patient enough to hold for long then you can plan alternatives, where you have less chance of losing.