I think it is not only a mental challenge but also it is an emotional challenge. Many have the mind set of hodling but most of them give up on emotional challenges due to fear of lossing when Bitcoin plummets to a certain degree. Also, we know that in an investment and trading, not only mental capability is important but also the emotional capability plays a significant role in how a trader maintant their composure in Hodling.
Many investors gave in to fear and became weak hand, selling their stash the moment the price of Bitcoin take a dip. FUD will never be called FUD if it does not affect the emotion of a trader.
Yes that is actually correct. Having a good mental and emotionally stable health is a must needed in this kind of market. If you are old or trading long time in crypto your patience is already been stretch and you are get used to it. The bear and bull market is too hard to understand at first especially if there is a FUD coming from some people , new people in the market tend to believe in this and at the end of the day they will panic sell.