I think that depends on your entry point. Perhaps if you got in at $1000 you may be trying to convince yourself, or others, that holding long term makes sense.

I think that depends on your entry point. Perhaps if you got in at $1000 you may be trying to convince yourself, or others, that holding long term makes sense. However if you got in at <$3 and have been holding bitcoin for a period of over 18 months then actually it is not an incoherent belief that it will be worth over $1000 again, it is a projected outcome based on the historic performance of the technology as a currency.