this is a good strategy for those who don't want to do or monitor the market on a daily basis, they will buy then forget about it in a few years then reap the rewards, but not suitable for high risk altcoins, and it is recommended to buy low risk coins, maybe top 10 better marketcap.
If you analyze TOP-10 for several years, you'll see that the TOP-10 has repeatedly changed, and often coins from TOP-10 disappeared forever (because they reached the maximum price and became uninteresting for manipulators). So hold makes sense for coins not from TOP-10 (but you need to choose project carefully)