Most people find their way into the crypto space with no mentor to guide them on how important Bitcoin is and they think it is too late to invest in bitcoin.
There is little mentors can do about holding Bitcoin for long because most people panicking and selling are already aware of the benefits of holding for long. As a matter of fact, they know that there are people who have made decent amount of money by holding Bitcoin from its early days. Without being told, they already know that buying Bitcoin during bear season and holding until bull season within a cycle of few years will make them make some good profits.
According to
1miau,
HODL is purely a mental challenge. If you go through that submission, you will agree that the mentality of the hodler play an important role for a successful Bitcoin holding. There may be other factors that contribute to successful Bitcoin holding as well, such as planning both your finances and when/how to buy.
while some people are looking for where they will get x20 in the short term, not knowing that investing in shitcoins will only make them lose their money because they are gambling and not sure of winning. The manipulation in shitcoin is too much, for instance, if a shitcoin has a $500k market cap some whales can push the market cap to $2m, and once those whales sell their token you will see the shitcoin will do -70% from its price, and if you don't sell that shitcoin before those whales sold their holding, you will lose your money on that shitcoin investment because the shitcoin has been dumped where it will never recover from its price. In bitcoin investment, you just need bitcoin knowledge and funds to use and invest in bitcoin with the DCA strategy, and no one will manipulate you or take liquidity on your head.
The risk of investing in shitcoins are numerous. Obviously, shitcoins are created to steal people's money and they do that through different practices, some of which you already mentioned. 90% of those losing money in cryptocurrency had their encounter in shitcoins. That is why I will not encourage anyone to invest in shitcoins.