Bitcoin investment is too volatile for a person to monitor with an uncertain mindset, this could lead to the person selling their bitcoin at a time when the market value is low out of the fear of losing out and this can/will ultimately lead to them losing out when the price skyrockets.
When the price skyrockets isn't a time to take profits if your accumulation target and/or holding period has not been reached, remember Bitcoin is an investment for a long-term and targeting the bull run as a benchmark for success or harvesting is trading and not necessarily investment. I think they would lose out instead to get Bitcoin at a cheaper price. Even if the price skyrockets, there's still a chance to accumulate at the point they decide to get actionable, but the good prices are lost and they would get lesser quantities for same amounts compared to bigger quantities they would've got at the same price of they've started now to take action and embark on their accumulation journey.
Funny enough they may become redundant to take action when it's obvious to them that they failed in their gambling with Bitcoin price and may entirely miss out investing into Bitcoin. Waiting is detrimental, but being actionable in your Bitcoin involvement is the key to success in Bitcoin.
Short -term investment is at risk, whether it is high or low. This is the main thing that you are properly trading in what season. There are many people who want to use the talent of savings for a long time but I noticed that if the Bitcoin market sees high trends, they break their savings. Those who invest in Bitcoin 10 years ago from today, left the biggest whale in their money bag and they were the best in their private bank.
You may have seen some investors properly trade but on the other hand, they have failed to use the trade properly in frustration again. I think they only do this to take advantage, but it can be a bit more profitable, but keeping in a long time they do not consider the aspect that is likely to move 3-5 steps. Bitcoin changes prices while adding each ATH. So we should invest for a long time and make your own portfolio.