We know that many guys get caught up on profits, and they screw up their whole bitcoin investment because they are overly focused upon locking in profits, and many times they might have been able to compound their profits but instead they end up taking mediocre profits..
Think about the guys taking profits in 2016 and early 2017 between $500 and $1,500
or think about the guys taking profits between $2k and $3,500 in mid 2017.
or think about the guys taking profits between $9k and $17k in late 2020.
or think about the guys taking profits between $25k and $35k in mid-to-late 2023.
or think about the guys taking profits between $55k and $65k in September/October 2024
And likely you will also be thinking about the guys taking profits between $90k and $110k in late 2024 and even at various points in 2025.
Of course, we don't know the results of this last piece yet.. but some of those guys are likely already regretting their having had taken profits between $90k and $110k... but we don't know yet.. since it is still possible that BTC prices dip back down into the $90ks.. yet newer guys in their first cycle or two of BTC accumulation should probably be focusing on accumulating bitcoin through persistent and ongoing buying rather than fucking around trying to figure out if there might be a dip or not.
Also, when stating some thing people need to be specific, it's not like taking profits is very bad but the time at which it's done really matters, you don't just take profits cause you've made little gains or maybe you started investing at a point close to a massive bull run like during the halving season and made lots of profits whereas you've not even invested for long period, it would always come with regret as you said Jay and people should note that the time at which profit is taken really matter and the amount we pull out of our portfolio matters too, investors should know when to pull out and right portions too and if an investor is still early in their journey then nothing concerns the person with taking profits regardless of whether they've made gain or so.
I am not proclaiming that there would have had been a better time to take profits, but instead all of those guys would have had been better off to keep holding and/or accumulating and sure at some point they could make it to over accumulation status so that they can transition into withdrawing from their bitcoin on a regular basis, whether price based withdrawals and/or time based withdrawals, and the calculation will be how much bitcoin that they have and how much income that they need rather than considering the extent to which they are in profits or not. If a guy has a cycle or two under his belt then he is likely in a better position to transition out of the profit thinking that was interfering with his ability to keep accumulating bitcoin until he has enough and even better until he has more than enough.
In order to attain success in Bitcoin investing, one must have to adopt a mindset that prioritizes accumulation and long term growth rather than shirt term profit taking as this is the key to reaching over accumulation status. When investors direct their focus on building a substantial Bitcoin portfolio, they'll be able to attain a level where they'll be able to sustain themselves through regular withdrawals, whether it's time based or price based. At this point, withdrawing from their Bitcoin stash would no longer affect the investments/portfolio as they have already gotten to a state of overaccumulation and are no longer focusing on accumulating but managing and preserving their portfolio.
It becomes easier for investors to shift their focus from profit driven decision making to a more sustainable approach once they've experience one or two cycles because at this point, they're believed to be better equipped to make more informed decisions. By sticking to this mindset, they put themselves in a much better position to continue accumulating Bitcoin until they've reached a state that their Bitcoin portfolio is sufficient enough to take care of their needs and/or even exceed their requirements.
At this particular point, they'll have a more straightforward calculation, which is, how much BTC would they need to accumulate that'll be able to generate them a particular income stream? And by diverting their attention and decision making from profit making and loss consideration, investors put themselves in a much better position to adopt a more objective approach towards effectively managing their Bitcoin portfolio.