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We are long past the days of selling bitcoins in a panic, though the world has not yet adopted it, the relatively few adopters have come to trust the system.

i hope you are right but people are still panic selling their bitcoins form time to time in order not to lose their money if the price is going to be dumped

If you see prices are going down than it is good practice to sell any product which you already made some profit and can buy later at a lower price instead just keep looking at prices. I also usually follow this method and save I only small amount of BTC for long term appreciation. I sold most of my BTC above 670 level and waiting to start accumulate around 600.

It is difficult to get the timing right. So I do not trade the bitcoins. I just buy the bitcoins when the price is low and then hold.

well the timing is just about your luckyness and your talent to analyze the current trends whether it's buying or selling and news could affect the price very much,and your method seems just useful if the price rising so much than when you buy the bitcoins in low price

So I think it is better just to buy and hold the bitcoin for the price rise in the long term. We just have to be patient.

Yes let us just be patient and wait for its price to rise. And if it hits our target price and contented with it we could sell it. Panic selling is a no no if we want to have a high profit in btc. It is like we are not certain and doubting on what bitcoin can do. I know that future of bitcoin can takes us to the place where we all want to be.

Having patience and waiting for the right time would give you definitely a good reward since as we all know the bitcoins potential to have a good future. There no need for panic selling since its normal for bitcoin to fluctuate its price because of some circumstances thats why the price had move a little bit low but after that you must expect a gradual increase.