For the moment, I do agree with you. The sudden spike in values of almost all crypto coins and tokens shows how extremely volatile this market truly is. This could be the bull run that everyone have been waiting for anxiously for quite sometime recently, but I am not so sure myself since there is no specific good news related to this spike and this could simply be a bull trap. However, the market does not always exhibit spikes due to specific reasons which is why I could be wrong and this could indeed be a bull run. Whatever the case, I am HODLING all my coins patiently for the long term.
That is a good decision to hold bitcoin today. Bitcoin price start recovering and will be followed by other coins. We hope this happened due to supply and demand factors or market mechanism. We are recommended to be patient to hold our bitcoins because future price will be higher and that means bigger profit you can take in the near future. In theory, price retracement ( bearish market ) will be followed by bullish market, that is a price reversal to go up again.