Why do people refuse to take profits when their coins and tokens are surging so high? Should this be called greed or they simply have strong believe that the coins and tokens will worth more in future? Is it wrong to keep holding coins even when they bring 1000x profits cos everyone seem to be talking about 'greed' here and there
To answer this question perfectly, we will need to go down memory lane to those who have been holding Bitcoin for years, or let's say those who abandoned or forget their Bitcoin for a very long time only to access it recently; now imagine the worth after a very long time, this answers the question that it is not wrong to be a long term holder.
Okay, let's leave Bitcoin and move over to Ethereum, remember the price years ago, and now those who have been holding till date are still in massive profits, this also answers the question that it is not wrong to be a long term holder.
The only issue here is, knowing what to hold and what not to hold, some people hold coins which are meant for short term for long term, that is, some coins whose team pays promoters or Influencers to shill, during this period it will pump and after that period the coin or token becomes worthless.
So when one knows that only few coins are good for holding the person will understand that long term holding is actually good.
Another good example is SOL coin, I remember it was once airdropped to Binance users, some sold and look at the price today.