Well you are right. Bitcoin is definitely not yet at that stage where mass adoption is completely happening. But my point is that despite a lot of investors wanting to keep holding there are still others who actually use it and have made purchases using bitcoin. I am still thinking that at some point bitcoin will be a common payment method and not some niche currency (its actually already really popular).
Of course, not all bitcoin investors want to keep holding, there are still some people who are spending bitcoin and supporting bitcoin as a currency rather than just a commodity to speculate on. But they only occupy a small number in the market, not large enough to make a breakthrough.
Another barrier that many of us overlook is that when it comes to payment methods, people care about convenience like transaction fees and speed, ease of use and stability...If we compare bitcoin with altcoins, it is clear that altcoins have the upper hand in this regard. So I think if the world adopts crypto as a payment method then bitcoin is not the first choice.
Bitcoin is more suited as an asset, a store of value, so I don't think there will ever be a phase where Bitcoin is used as a popular payment method.