I don't really have a strategy that I use. I just buy some Bitcoins every now and then when the price has gone down to hold for the long term. That's all I do at the moment. I am not even trading. It's purely holding what I do. I am so happy with my Bitcoin investment that I never look into any other investment. Bitcoin is more than enough for me as I believe in its full future potential.
If you decide to buy and hold your Bitcoin it is actually not a bad thing to do and to consider as long you are going to hold it. But actually there is a better option for you to earn more and it is investing and trading. If you are scared on losing to much why not trade just a portion of your Bitcoin and invest some then hold the rest so that you can have a portion of active profit and passive thing to do for you to earn.