Regarding luck.. There probably is some luck involved, but like you suggest Cookdata holding and even continuing to buy through the years is not ONLY attributable to luck... even though there may well be some luck involved, since folks are in different places at different points of their lives and in regards to their abilities to spend time, money and energies on something like bitcoin
JJG I read what you wrote above that's why I decided to ask this question directly, those who bought bitcoin when bitcoin was $1k as at then, and they hold onto it for years and bitcoin prices increased along the line less say to $30k and they profited massively from their bitcoin holding, so now my question is, where they lucky to buy bitcoin when bitcoin price was $1k and hold onto it for years or they just make the right decision buy buying bitcoin with believe that it we increase in price one day since bitcoin is decentralized?
When Bitcoin was first launched in the market, many people did not dare to take risks. Because Bitcoin was new to the market at that time. But in the current situation, many people do not dare to buy Bitcoin because the price of Bitcoin is very high. All these people will never be able to do anything good from the Bitcoin market. Because they get restless after seeing small market declines. In the case of Bitcoin investment, you have to have complete faith in Bitcoin. I think Bitcoin is still far from what Satoshi Nakamoto thought about Bitcoin. Whatever the price of Bitcoin is, as an investor, you should keep buying continuously and keep buying continuously until you can accumulate enough BTC in your portfolio.
Your suggestion about what to do seems correct, yet your version of history seems like you are just making shit up.
It seems to me that similar kinds of phenomena continue to exist in bitcoin that include people believing that they are too late and the price is too high, yet every time (at least so far), the BTC price continues to go up, and folks would have had been better off to just get started rather than whining about BTC prices being too high and that they missed the boat.
Current times are not much different from prior times, except that the players coming into bitcoin are BIGGER and the various financial instruments are becoming more sophisticated, while at the same time bitcoin's investment thesis seems to be getting stronger and stronger, even if the slope of the up curve is likely not as steep as it had been in years gone by... and the fear of going to zero should be less, as well.
Some guys may have come to bitcoin several years before 2017 and still were not able to accumulate a lot of bitcoin because either financially and/or psychologically they might not have had been in a position to have had seen any kind of value in accumulating bitcoin.
If a Bitcoin investor joined this market since 2017, that means that investor already went through three market cycles with three bear markets in 2019 - 2020 and 2023 - 2024. It's enough experience with both market cycles and bear markets to have good knowledge, experience about the market, what happen in bull market as well as kind of fud used in bear market to dump it.
It's also enough time and experience for the investor, to have stronger belief in Bitcoin, have stronger hands if not diamond hands, and rock mentality to determinantly accumulate bitcoins during many months of each bear market.
Collecting enough bitcoin as wanted or not, is not important because people are greedy and it's like nothing to be enough. If the investor can determinantly buy bitcoin dips, accumulate in bear market, it's good enough and it would result in considerable satoshis accumulated over 8 years since 2017.
The last bear market gives opportunities to many people, and it is partially reflected in increases of Bitcoin addresses that holds X bitcoins.
https://www.bitcoinmagazinepro.com/charts/addresses-holding-x-btc-by-year/https://www.bitcoinmagazinepro.com/charts/addresses-greater-than-0-1-btc/https://www.bitcoinmagazinepro.com/charts/addresses-greater-than-1-btc/I think that a lot of the discussion was attempting to relate to any bitcoin accumulator who might have had been able to mostly accumulate his bitcoin at or below $1k per coin, and so what kind of dynamics that might create with a bitcoin accumulator in such a position.
I have a hard time imagining any bitcoin accumulator just getting bitcoin in a very short period of time and then just sitting on his bitcoin for years, yet surely the position of any bitcoiner is not ONLY figuring out his average cost per BTC, but also figuring out the extent to which he might have had accumulated enough or more than enough bitcoin during the time that he had been accumulating so that he might be able to move to the next stage which is maintenance and then perhaps later to an even further stage of sustainable withdrawal (if that might be his goal, rather than just selling his whole stash after spending many years accumulating and/or sitting on his stash).
So just talking about average cost per BTC might not say very much if the person accumulating might not have had accumulated enough, and then another thing, if they had assessed that they had not accumulated enough by the time 2017 comes, then from a practical perspective, they might still be accumulating bitcoin after arriving at 2017 and perhaps through the 2017 cycle, unless perhaps maybe they did not continue accumulating again until the 2018 dip or sometime thereafter. .and then going through the 2021 cycle too...
I really count such a person as only two full cycles and sure perhaps entering into a third cycle or potentially being half way through a third cycle.
My own position in bitcoin is that I am getting close to having had been through 3 full cycles, yet I started in late 2013, so my own timing would be 2017 as the end of my first cycle, then the end of 2021 as the end of my 2nd cycle and perhaps the end of 2025 as the end of my 3rd cycle, in the event that our cycle might end in 2025 or perhaps drag into 2026.