Funny how every time the market is in a recession and losers keep holding on to their losses they magically become "long term" holders.
God damn it, "long term" is such a stupid meme. Admit it, you wanted to get rich quick and once you realised you are too dumb to swing trade you suddenly became a "long term" loser.
Such idiocity.
You think Dan Balzerian held anything "long term"?
Long term is for losers.
Many people don't have the option to do daily trading due to lack of information or due to lack of time,
It is a good strategy to follow especially if you don't need cash immediately.
Just think of the people who bought Bitcoin in 2012 and they just hodl it till now. I think that the money that they earned can prove your assumption wrong.