Both as it pros and cons and if someone wants to be millionaire then holding is the option which will help you make money and those who want to make daily money which helps them pay their bills regularly then short term is the option for them .
Yes, I have tried it already though in a small scale holding long for bitcoin. It can really have a huge profit over a period of time especially when one is a risk taker meaning to say that one has invested while bitcoin is down or having a cheaper market price and in an uncertain state of condition of market. Imagine if one invested while btc market price was on 3K usd pretty sure it would be already a profit but holding it for more will definitely take one to more than 2x-10x profit in the long run. Just make sure to check always the market price especially if bull run will going to happen.