this strategy is only working if you think what you are HODLing is worth it. for example if you really believe that there is some reason for it to be adopted more so its demand rises and with it the price of it in the long run.

for bitcoin, i do believe this and i think because of its limited and small supply and the increasing demand, bitcoin price will rise in the long run so that is exactly what i am doing with bitcoin, i keep buying and earning more and hold for long term.

but for altcoins i do not see this and i believe that there is a bigger chance for them to drop and never come back up again because there is no real demand for them and also they have ridiculously high supplies and some of them don't even have limited supply (no cap). so i only trade altcoins in short term.