Despite a rise in volatility and massive losses for BTC the long-term holders are positive. It is observed during recent sell-offs and downturns, those who hold for a long time generally remain optimistic and are patiently waiting for the price to rise again.
Obviously, the time they have decided to hold for long, they will disregard any trends that will happen along the way. What's the sense of hodling for long if they will have that desire feeling to dump their coins just to minimize their losses or because they become emotional and stress.
That's the part of hodling bitcoin, you need to try withstanding all the problems you will face and encounter.
Although it's not really easy to do, that's the challenge there.