I do see people come here and declare themselves as long term holders of bitcoin because they are holding for weeks to months; they are right because previously they were into intraday or sessional/trend trading which may not last for more than six months.
Holding an investment for weeks or months isn't a long-term investment, I think it is labeled as a short-term investment. Medium-term depends on the cycle of what they are holding but I think it is somewhere on six months to 2 years.
But, bitcoin's cycle is 4 year long which means your long term should cover at least one full cycle of bitcoin markets.
To enjoy the real benefits of bitcoin investments, you must plan up for covering 3 to 5 cycles of bitcoin markets. Waiting period of more than 10 years may sound unrealistic to many people but I like to suggest them to google to know about the real power of decade long holding of famous stocks.
Yeah, there were stocks which transformed long term holders to multi-millionaires for the investment of $100 to $1000. Luckily, we do not have to break our head to find the right stock for long term holding in this crypto space; it is only bitcoin but to get 1000x returns, we must learn patience.
I agree, if we may, we should hold our investment for a decade in order to see a great result. But to see Bitcoin to have 1000x return if we invest today is somehow fictional. A 100x is still somehow hard to get at the current price of BTC. ( I would love to be proven wrong though)
For the people, who argue that they cannot lock $1000 for year then they should plan up for $50 or $100; that is very basic. If we stick with basics of investments then we can easily convert deep bear markets of bitcoin into moderate ones.
Yeah it is better to have an investment even in small amounts than never had one.