Some countries now ban the use of Bitcoin, or banks restrict cryptocurrency transactions, resulting in an increase in the number of long-term Bitcoin holders.
For example, in China, China prohibits the use of Bitcoin. If I were Chinese, I might be more anxious. Some ways can be found to avoid being caught by the Chinese government. I will consider putting it in a cold wallet. In this case, you can only choose to hold for a long time. After all, there is no exchange to trade,
So will anyone give up Bitcoin?
Even if it was to that extent of an outright ban on the entire trading of cryptocurrencies, I believe that there will always be options available to the people which if you are some worth bullish in Cryptocurrency the person might consider relocating to a crypto favourable place where they can sustain and continue trading and for those that are not, yes, HODLing in whatever form might be the best case for them until such a time there are favourable laws to crypto trading, however, I believe this is not the case for now so crypto trading can still go on in China as @Nora Olin has also mentioned but just the ban on mining.