Even though you are very good at doing TA and have deep knowledge about trading still was hard to timing the market price due to its volatility. That is why some holders wanted to stay as holders rather than use their funds to trade because they thought it was less risky and not stressful. Of course, if you are not really confident to do trading why you should do it in fact, we can still earn a profit from just holding and selling at high. It was not how we miximized our funds while waiting for the bull season but we chose the way that we thought it never gives us losses which holding does.
Timing plays a key role not only in trading, but in just holding too. It is not enough to just buy and wait and then sell at a high price. You will not be able to not worry at all and not monitor the market. Because to successfully close the transaction, you need to sell on time, and this is what many holders do not do, in the hope that the asset will continue to grow further.