I respect your views very much, as I have had the same outlook in the past.︂
But let me explain my mindset a little. I have been mining BTC in 2011︃ on my old laptop, buying and trading on MTGox ( I even had a meeting︄ with Karpeles at the Mt.Gox office in Shibuya (who was a fatty wearing a black︅ Metallica t-shirt then). Only reason why I haven't join them was that 'officially' the staff︆ wasn't allowed to trade, even in private.
Later on, I got rugged by MTGox (like︇ so many) for >1000 BTC, and then I had enough and I left the market︈ for a while. All I have left from that time is a Yubikey with the︉ MTGox logo on it in my drawer. And for some J@*#(&%Y@ reason, I missed the︊ deadline to file my claim with the trustee (really, really stupid reason: my email changed︋ and so I missed the deadline by a week, as I read about it on︌ the net too late).
I reentered the market later on @ $200-$600, and have been︍ just a hodler, accumulating and hodling strong. On the side, I was working on the︎ technical side with some of the bigger blockchains (they are still going strong today, but️ I won't DOXX myself by mentioning which).
Coming to my point, during the years I saw my wealth dropping 80% during the bear markets, as I didn't sell, following the same ideology you mentioned above. I still can remember how it feels, and I still can see myself going to some wage cuck job and checking the price on my phone in the morning on the way to work, seeing my wealth evaporate.
What I learned from it?
NEVER AGAIN.
What it did to me?
It killed my emotions in trading.
I don't care anymore if it goes up or down, I just want to︀ make a profit from each move.
I feel nothing losing 100K in 3h anymore. After︁ experiencing it so many times, it killed the emotions inside me and made me just︂ rational instead of emotions or 'wants' taking over, learn risk management, and trade both sides.︃
Cycles are a fact, and taking profits is healthy. No one ever lost money taking︄ profit.
One can always re-enter the market.
Mathematically, BTC is getting more scarce every day,︅ as less and less of it get mined, while the world population increases, and people︆ - as well as financial institutions - are purchasing more of it.
But let me︇ tell you something, that very financial institutions are not hodlers, but make money trading, using︈ options, futures, and everything they can get hold of, to make profits buying and selling.︉ And they can see that the market believes in halving cycles, you can bet that︊ they gonna short it hard when the time is ripe.
Should I hodl it, while︋ the banksters make billions with their shorts, and lose 60-80% again, having to wait for︌ years for it to get back up? That would be the definition of insanity, doing︍ the same thing over and over again.
Shorting BTC with 10% of wealth? That's risk︎ management, if my timing is wrong and I lose that, I am still good.
At least I get something to do, while waiting for a re-entry about 1-2 years later.️
Reentering BTC lower? Hell yeah, sure thing.
But that's just me, everyone does his own thing.
