I have previously written about bitcoin here. This article should be viewed as a follow-up to my previous article.
I don't see bitcoin as a buy-and-hold investment, because I think there is a material probability that the ultimate value of bitcoin is zero. Instead, I prefer to look for a strong long-term trend, open a conservative position based on that trend, and monitor that position with caution. The strategy that I employ attempts to ride the bull market for as long as it's profitable, and leave when the party appears to be ending.