The biggest mistake anyone can do is still holding unto their altcoins when bitcoin touched 60k weeks ago and still holding strong when the fall began weeks ago, imagine someone still holding HEX token when the coin did 40x already? If you are someone like this friend I don't know what your aim is but sorry to say you are doing it wrong. Check yourself cos it's possible you are struggling with greed.
I dont think that its wrong if they hodl a token that they think has a very high potential in such a long run. Like just for example, bitcoin hodler that hodl it ever since 2010 they are now multi-millionaire because they did hodl long termly.