Well it's about the right diversification and timing when to switch to fiat.
I wouldn't hedge with altoins as they will mostly crash first imo!
In terms of Bitcoin I believe the bubble hasn't even started yet. But when it happens and we're going parabolic, don't try to ride the wave until the end. So getting out in time is what it is all about.
And when the drama is over buy back in and enjoy more coins!