CONFIDENCE is critical for the person who wants to adopt a HODL-style strategy. Some people would call it "faith" or "belief", but there is not faith or belief in Bitcoin. It's CONFIDENCE in the mere fact that the network will continue to keep chugging along, producing block after block, and that it will continue on for DECADES.
What would a person who doesn't know how Bitcoin works? He/she will PANIC SELL during drawdowns and FOMO BUY during price surges.
You’re absolutely correct, confidence is very vital to help us to accumulate Bitcoin in as much as we want to build a successful Bitcoin portfolio, we have to stay focused to be able to accumulate and maintain our standards of accumulating consistently.
We also need patience, it’s a very important factor when it comes to accumulating and holding for a longer term we have to appreciate the virtue of patience, if we are not patience when there is a downturn in the price of bitcoin we would might panic sell and end up losing our Bitcoin portfolio.
Those two factors you just mentioned are the most important for an investor after they've learnt the basics of investing in Bitcoin then put it to practice, one thing they should understand that the market is not always smooth and sometimes they may get discouraged cause volatility would occurr, their be some negative stuffs like fuds, war etc that would affect the market in a negative way and cause a tension for panic but when ab investor has got an experience with the practical aspect of investing then they'll build confidence in holding with hope that it would get better in future and that's where the patience comes in.