Here are some of the challenges restricting users from buying and hodling bitcoin:
1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.
Even if the government has banned Bitcoin transfers, there are still various ways to do so, but they are inefficient, especially for individuals who are unfamiliar with Bitcoin. So, in my opinion, this is one of the reasons why people are hesitant to keep Bitcoin.
3. We need to buy in dip or at the peak of a bearish market if we want to buy and hodl for at least a few years, we can take the example of people who bought at the peak of bull run during end of 2017 and had to wait till the end of 2020 to meet break even and gain profit but many end up selling due to panic and fuds, we need proper channels to educate users to avoid panic selling and build a strong community as a lot of negativity was spread during last bear market which distanced many from crypto.
Feel free to share your opinion on how we can fix this.
There is always a good time to buy Bitcoin in order to reduce risk and maximize your chances of making money. So rather than investing Bitcoin at a random price, we should learn how to assess the market. Those who bought a high price did so because of the hype, and we must be aware of this so that it does not happen to us.