Newbies can easily be influenced from what they hear from speculations.. I've read several times people tend to advice to hold long term. because its easy for them to say JUST HOLD cause theyre not the one losing! For me its not all about holding, its being smart about your own invesment know when to stop and cut the losses.
What are your thoughts?
When the price goes up sharply, you need to prepare to sell. When in mass media and bloggers will shout that it is necessary to be bought - then to sell.