What I find so curious is that many HODLers here seem to have a very religious devotion to Bitcoin, despite the serious situation Bitcoin is in. Some seem to be even more devoted to their own religion of Bitcoinism than the pope is committed to the Roman Catholic Church.
I think many bitcoiners are really emotional. But that is normal. For many writers here Bitcoin is a life-time opportunity. They see the value that Bitcoin brings. You mentioned that with no word. Fast and cheap. And because not many people are aware of that at the moment, the price is low but can 10fold or 100fold. What asset do you know which can 10 easily 10fold with a relative high expectation value? I don't see one. The stock market seems to be overvalued and interet rates are low.
But I think there are also investors which have no idea of the value of Bitcoin or don't think people will adopt it. That is ok. So they cannot understand why people hold.
Important: Every trend has a limit. Just because we are in a downtrend now, this doesn't mean we will go down to 1$ and never go back. Maybe yesterday the 340$ was the bottom. Maybe not. But if you believe in the long time value of Bitcoin and sold yesterday all of your coins at 350$ you might be more frustrated than just holding...