The issue with this is that holding isn't always the best option. Holding is the best option only if you believe that after each peak, bitcoin will surpass that peak once more in the future. There will be a time where bitcoin ultimately stops going up, and that's pretty much inevitable. We just don't know when that will be.
That part of your post includes everything that's needed to be said about why holding has been the best option thus far, and still IS the best option in the forthcoming years due to the insane growth potential. I probably shouldn't have used the term
always, because this directly implies that the market will
always keep increasing, and that indeed can't be the case for ever. However, with what we have experienced in growth thus far, and with the potential growth that we can still gain, holding at this point remains the best and easiest way of getting that growth exposure.
It depends on what kind of time reference you are using, in the short term is impossible for the price of bitcoin to keep going up, there are going to fluctuations in the price, but if you are thinking in the long term and you look at the overall trajectory of bitcoin you see that the direction goes up, yes there are crashes but if you were to draw a line from almost any point of time to today you will get a line that goes up and that is why holding is recommended as the best strategy.