This recipee could be a thing of the past. Nowdays it may be better to look for opportunities as lots of talent is going into the market. Do you still think of becoming a millionaire by hodling?
You correctly say that it is useless to hold it when it is clear that it will take a lot of time to recover to the purchase price. Not everyone agrees to wait for about the same time, so look for your new coin and try to get profit from it.