Those are short term investors not a long-term investors, a long-term investor will not sell his investment at any given time, and if he has to sell his investment due to health issues that is after using his reserve fund am sure he will be willing to start all over again because health they say is wealth.
But for those that don't have any health issues and sold their investment because of the price increase in the market are not good investors but traders, because no matter how he struggles to get the money to come back into Bitcoin investment, will still sell off their investment again when the price goes up again, these set of persons are known as perpetual traders that are always looking for opportunities to sell.
Perhaps you might have a misinterpretation of people's action, some guys who are selling or sold around $100k are not traders perhaps you might think all that because you're still a newbie here.
Some guys acquired bitcoin or bought bitcoin when it was around a thousand $1000 - $10,000 having made so much profit sold at $100k is not an act of trading, some of this guys even use the sustainable withdrawal practice to withdraw their bitcoins yet having so much left.
If you know what bitcoin really is you will discover that if it's not exchanged, transactions taking place then it's not longer a currency that Satoshi created it for rather it's just now an investment too.
There are many people who buy and sell their holdings when a small amount of leverage comes, are they investors or traders? They are definitely traders. Because investors will never express their desire to sell their holdings or sell them because of short-term greed. Investors will continuously buy BTC until they can accumulate enough BTC in their portfolio. And wait until their time limit ends.
If someone sells their holdings before the expiration of the term, even if they sell $100,000, I think they are not a real investor. It is not something that you will sell your holdings before the expiration of the term because you will make a lot of profit. If you have a certain amount of holdings, then you can take a profit by selling some BTC after 1 cycle or 2 cycles. This is completely my personal advice.
Of course these people made good profit, but they aren't actual investors if they sold too early, but if they sold after at least one cycle and if selling at a time like this was their plan all along then they can't be called traders even if one cycle can sometimes be seen as short term by some people, it is still long term, just the really short end of long term, though I believe that if a person's initial holding plan was for 7 years and they sold their holdings 2 years short due to a pump in bitcoin price which would mean they sold at around 5 years of investing, then they can't be called real investors, this is because even though 5 years is more than 4 years which counts as one cycle, that sale can still be called trading since the person sold because of the profit that came at the time, even when selling at that time wasn't initially a part of his/her plan.
When talking about long term generally, it might differs according to the individual involved, because we all look, but we see differently, so it mostly depends on how the individual in question sees things.
But buying and selling just for a circle can never be term as a long term investment because nothing great can be achieved by selling in such a very short period of time, actually in my own perspective I sees long term as holding for like three circles or more, anything less than that is not long term in my own opinion.
Those selling off their holdings just for a circle thinking that it's long term are just traders selling of for minimal gains, because hold for only four years wouldn't milk anything huge from your holdings, especially when you are a low coiner, and as a low coiner, you must accumulate Bitcoin at least for 10years for you to be able to accumulate something tangible, then after accumulation, then he might decide on how long he wish to hold before he start taking profit, not selling all at once because it would be to unwise to sell all at a spot.