Buy and hold strategies are often recommended for long-term investors who have time to ride out the ups and downs in the markets over a period of years. They are also typically appropriate for novice or uneducated investors who do not understand the markets but still need long-term growth or income.
Market timing strategies may work in any time frame as long as the market is timed correctly. This, of course, does not always happen, and no timing strategy has ever shown itself to be foolproof.
Which investment strategy do you prefer?
Back in the days when I was refraining from a day job, I prefer trading over HODLing - because I have all the time to watch the market pumps and dumps. However, after the ATH I have decided to get back to the office and never trade that often - therefore I bought and HODL.