I don’t think you should discourage him in anyway, when he took the decision to invest in Bitcoin, you were not there and he also took the decision to leave it for a 8 years, you were still not there. There’re some persons that whenever they put money into a particular thing or invest, then the profit reduce. That alone will motivation for them to be willing to keep on or wait until it has gotten to the previous amount they’ve seen. The reduction itself is a motivation for them to keep on waiting.
What are you saying here, reduction in the price of bitcoin is not a motivation to hold longer, the reason why people hold for a long term is simply because they missed out in taking profits when the price skyrocketed or they already had a plan of holding for a long period of time which whatever happens in the short run is not their business since they are focused on long term target. Reduction in the price of bitcoin is only a motivation to those who were waiting for the DIP before they buy or those that want to accumulate more at a DIP price and increase their profit level when they prices begins to skyrocket again.