Actually many follow that strategy because it seems to be safe and it's pretty easy as well, you have to do literally nothing.
I really prefer long term trading or holding because it is more easy rather than short term trading and i know to my self that a lot of people is also prefer to hold for long term because it is a wise strategy to make a lot of oney in the future.
Long-term investment for myself is the best way to invest in this market because it does not take too much of my time and the efficiency it brings is quite great. I consider investing in cryptocurrency the same as saving and I am sure this savings is much more effective than depositing money into a bank.