Now that bitcoin has reached $1000 it will be a good idea for people to hold on to their btc to maintain the price
or we can just buy more btc to push price even higher
holding bitcoin even at this stage is a good idea. i did not sold my bitcoin when the price cross 1150 in previous day and still not going to sell my bitcoin even if the price of bitcoin will cross 1200 USD level. because i am still pretty confident that this time the price of bitcoin is going to cross every 1600 use level very soon, so i am not going to sell my bitcoin in next moth or two.
Yea you are right. Many people buy end never sell again until they need money. This is a good strategy and very easy way to earn more dollars. But you can also to try to trade a little bit. You can sell, wait for a while and buy at lower price. This is not always easy but you can increase your profit.
This is not at all a practical strategy .If you are a good trader you will book your profits when ever you can and enter at a later date and with the high volatile nature of bitcoin you will get plenty of time to enter and exit and make a good amount of profit and since the price touched back the $1000 barrier i assume that the price will sustain over 1k for some time.