I believe the concept of HODLing Bitcoin is nearly as old as Bitcoin itself with the fundamental reason and hope that it will increase more in value over the years. Although several persons are entitled to there own reasons for HODLing, could it be that some persons HODL because they are waiting for the perfect time or they are too scared to sell or lose a percentage of their Bitcoin?
There is no other reason to hold bitcoin other than making profits in the long run. Holding bitcoin doesn't mean being scared to sell, there is a season to hold and a different season that is appropriate for an investor to sell. It comes in a bear season where investors are intrigued to buy more, while the bullish season that comes after a bear season, is the season for investors to sell. Any investor that sell during the bearish season is doing the wrong thing, we hold bitcoin so to make maximum profits not cause we scared.
I believe While long-term profit is one major reason to HODL, it’s not the only one. Some people hold Bitcoin to hedge against inflation, to bypass banking restrictions, or simply as a store of value. Also, saying never sell in a bear market can be risky advice.
In real investing, personal circumstances and risk tolerance matter. Some investors might need liquidity, rebalance their portfolio, or exit to cut losses. Timing the market perfectly is almost impossible. A better approach is to have a clear plan and to know why you’re holding, set profit targets or stop-loss levels, and rebalance as needed rather than following a rigid always hold in bear markets rule.