Different persons have different ideology of holding Bitcoin for long time so the essence of holding bitcoin from my own perspective of life is that you have to understand the procedures of investment because holding Bitcoin is like having a target of multiplying what you have because any crypto investor have plans and the plan of holding bitcoin is to make a profit in future so the essence of holding bitcoin for long time is to make a profit in nearest future so that is why many persons indulge in Bitcoin holding and also bitcoin investment for long term
Your ideology will determine whether or not you make a profit. Because some individuals believe that they can benefit from bitcoin without having any understanding, yet bitcoin is always about having knowledge. The only time that something may not be vital is when you want to hold. Even if you are holding, you must understand when to buy and when to sell; there are some conditions that will discourage anyone from buying. During bull runs, you can elect to sell. Then bear is for people who desire to accumulate. But if you want to trade, you can't avoid getting deep, because trading requires skill and knowledge of technical analysis.
And if you don't follow the steps carefully when investing in bitcoin, you won't get very far. That is the challenge associated with bitcoin investing, so people must persevere and follow the steps one after the other, but they also don't want to study constantly, which is one of the most important things. If people don't want to make money, they need to be prepared to be patient, which is a requirement for success in bitcoin, but they are always too lazy to understand the steps, and once they are understood, there's no stopping you from making money.