Well the term HODL is used when trying not to sell a particular coin bought, either at a bear or bull market run. It's when one decided not to sell a particular or some amounts of coin for a particular time and hodl till some kind of improvement or for a lengthy period of time.
That happens because the price of the assets they have is down and does not match the previous price. Because everyone certainly does not want to loss so there is nothing wrong with holding back the assets that we have.
yeah, basically the ones who do the hodl are people who expect the value of a coin they have to rise, but instead the price drops, so there is no other option but to hold it back, and the discussion here is whether it is the right choice? if in my opinion it depends on the courage of each person, because choosing to hold it or not is not an easy choice, there are always bad consequences in it.