Newbies can easily be influenced from what they hear from speculations.. I've read several times people tend to advice to hold long term. because its easy for them to say JUST HOLD cause theyre not the one losing! For me its not all about holding, its being smart about your own invesment know when to stop and cut the losses.
What are your thoughts?
We don't just hold for long, but we must holding smartly as well. If you only holding your coins without thinking, you cannot avoid losses.
Just hold the coins which have a good liquidity and value. If your coins value keep going down, then it won't be worth to holding anymore.
You have point mate, when you're planned to hold such a coin you make it sure it has good reputation and dont forget to check its background the history of its market, so that you can determined if it is really good for long term Investment. Like bitcoin, if you just check its history you can see that the value of it's increases year by year, so theres no doubt to make an Investment with it in long time.