This is the perfect time for cashing out bitcoin since it is above 8000 dollars at present and there are maximum chances it will further increase in value. If you are really in need of money, you can cash out bitcoin right now but if you want to have big money, sell off bitcoin by the end of December because there are maximum chances that it will further increase in value.
People said that it's better to sell when we reached the $5000 mark for the first ever time, and then $6000, and then $7000, but it turned out that these were not the "perfect" moments to cash out.
The same may apply to current levels, and far beyond. People are used to how things were before this craze started to boom, and it's safe to say that the previous factors don't play much of an important role anymore.
New money is flowing into this market constantly, and we're very close to opening the doors for institutions to enter this market legally. Current levels may turn out to be very cheap in the next few months.