I don’t understand the “record high” point. How did you decide when a “record high” had been reached in a volatile market? Because at $1 the record high might be $2 until it reaches $3 a week or month later. How did you determine where to slice on “record highs”?

Genuine question because I feel like I’m maybe missing something!

The short answer is: it's the secretary problem.

The longer answer is; you never know whats coming next, bitcoin could have doubled the day after, and doubled the day after that, and so on, for weeks. And by selling half you've effectively sacrificed huge sums of money.

The truth is that by retaining half you have minimised potential losses and sacrificed potential gains, you've chosen a middle position which is more stable.

So, if bitcoin 1000 bitcoing which was word $5 one day, and $7 the next, but suddenly it hits $30. Well, we'd sell half.

If the day after it hit $60, then our 500 remaining bitcoins is worth the same as what we sold, so in theory all we lost was potential gains, we didn't lose any actual value.

Of course, we wouldn't sell we'd hold, and it would probably fall down to $15 or something instead.. then the cycle begins again..