So I would prefer to hold for as long as possible, since coins generally do well with time
Not all coins generally do well with time. Many altcoins have turned out to be a failure and scams to their investors, while some, on the other hand, have given their investors profits in the short term or long term. Bitcoin is the coin that you can hodl for the long term; profits are for sure for you. For altcoins, you can't be sure of that because their future is always uncertain.
Yep, in addition to fraudsters from the developer side, there are more ones that are not meeting market needs, cannot compete and make the coins feasible, more fraud in meme coins, but in other projects is a project failure that cannot develop or abandoned its users, so that the demand for coins or tokens is no longer in the same interest which will only reach the highest limit and never return to the peak of the price.
The peseate is the development of technology and the fierce competition in the market so that the market conditions easily change and that makes holding Altcoin in the long run is a decision that cannot be taken carelessly.