Many of us make mistakes, yet sometimes we cannot identify that we still might be in a bad kind of mindset, so we keep making the same mistakes over and over, and staying involved in shitcoins or can's stop trying to trade bitcoin, which can be some of those kinds of mistakes that are hard to get away from continuing to make.
Not going to generalize this but I have noticed that most of the times when you see someone who actually is buying various shitcoins (something I can never call investment) and they probably have been losing money more and they still stick around this same strategy of buying they are people not making mistakes in my opinion but rather people who are actually trying to get rich quick by buying the next pump coin. Sometimes it is hard to actually hard to get this mindset off from them.
There are actually people that do buy shit coins and make profits from them but that's not actually a form of investment because it obvious a form of gambling. When some losses money, they'll going to lament that the crypto market is a scam when it obvious that they are the one putting themselves in that shit.
Bitcoin is still my favourite cryptocurrency and making people are really cashing out from it because it's the best decision to make when it comes to holding for the bull. Shitcoins are majorly form of gambling and most devs that do launch shitcoins projects are doing so to steal from innocent and ignorant investors that are not sharp enough to see the danger coming.
Holding for the bull as you say to me sounds more like trading rather than investing unless maybe you are describing trading because an investor are not just holding for the bull but to maximize the potential of Bitcoin holding over a long time such that they can make purchases of Bitcoin even in bull and in bear seasons.