Holding bitcoin is a slow and boring process to gain profit in btc's but good for those who really doesn't use bitcoin in any matter. As in zero use. All coins are just kept on wallet. If people are not using bitcoin then holding is good for them. But for those who are trying to gain more btc's and using btc regularly then holding is not recommended for faster earnings.
people who are holding bitcoins won't mean they aren't spending. people have several wallets for different purposes. i personally prefer a slow but steady growth.