People who are eager for quick and fast money are usually the ones who do this, they are short sighted and are not in the long game cos they lack patience. They are traders and it’s in their nature to want to make gains quickly, so I don’t want to say it’s all wrong move, so long as they’re making profits and their buybacks is always on a price lower than they sell. The problem is the risk is higher with this practice and you have to be looking at the price chart always (hourly, daily).
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You’re right. Selling off bitcoin at the sight of profits is extremely a bad practice because I could remember early this year when Bitcoin hit $100k, so many who don’t understand the fundamentals in holding bitcoin sold off there bitcoins. They couldn’t keep up with buying now that it’s high and has caused so many pains to them.
Anyone who understand the concept of bitcoin investment will never be tempted to sell his holdings whenever there's a massive increase in the price of bitcoin. Even if they will be tempted to sell due to one or two reasons but not to the extent of selling all thier bitcoin investment, As a bitcoin investor is advised to sell some portion of your holdings and then allow it to compound upon itself or keep accumulating more bitcoin to enable you fill the missing space rather than selling all your holdings and start fucking around or looking for a way to start building back your bitcoin portfolio, because the price might get to a certain point where you will be thinking on where to start from and this can probably make you lose interest in bitcoin investment.