so ... what .. to do
sell or hold
Bitcoin is going to touch sky highs in the coming years. But still its very small economy compared to other markets ( around 1 bln ) and will see lot of ups and downs, challenges, market manipulations and what not. So if you are uber long with bitcoin, just hold and do not worry much about price going high or low.
But again we need to pay bills and do business
So simple advise, book some profit regularly when you find you are making good money. In case you find bitcoin price going low and can afford buy, buy again. But in any case you must have certain % ( it can be anything 10, 20, 50, 90, 99 ) as your long term investment.
One more thing is always try to spend bitcoins rather than selling. For example you want to buy BFL single or planning to buy some property near your town. Sell some coins for INR ( I dont think property owner will take bitcoin at the moment ) and buy whatever you have planned. I dont find a good reason to convert bitcoins to FIAT and hold that. But you can convert it to FIAT as medium of exchange for buying something or investing in something.
Also, Never put all eggs in one basket
. Try to diversify your portfolio with some portion going in Gold, Property, Insurance and pension plans and what not
Cheers