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?
Honestly, I don't want to call it greed completely. Even though there's an element of greed in it somewhere. If those hodling knew that a token they hodl would crash, of course they would be the first to dump it. But then crypto is full of uncertainties, so we keep expecting more with bated breath. Ideally, I want to see it as the second option – "believe that the coins and tokens will worth more in future" part. Yes, no one sells off a token they are certain will be worth more in future. Those who sold Bitcoin when it touched $1,000 would still be hodling if they knew it would get to $60,000+ in less than four years. We only get wiser on hindsight. I have held a token that did over 1000% and didn't dump it because I expected more. Sadly, the more didn't come as the project ran into murky waters and I ended up selling at a way below price.
Is it wrong to keep holding coins even when they bring 1000x profits cos everyone seem to be talking about 'greed' here and there
Well, it depends on your target. Nothing is cast in stone in crypto, just like every other trading activities.