Losing confidence in holding Bitcoin can be attributed to using funds meant for your survival to purchase it. It's no news that some guys insist on using funds necessary for their survival to increase their aggressiveness in accumulating Bitcoin. Those kind of folks find it very difficult to hold when Bitcoin isn't performing well in the markets.
It's important you buy Bitcoin with your discretionary income so you can be more relaxed and have the ability to hold for longer amidst market volatility and cycles.
Losing that confidence is not only when you use funds which you where not meant to use to buy bitcoin, some can still use money they can afford to lose and still lose confidence it’s all boil down to what their plan was before investing in bitcoin the idea they have and the type of information they gathered before approaching it, if after buying the price is not moving as they planned and it continues like that over time they can easily lose confidence because they don’t get their desire result and they are not use to the market.