I have a pretty simple point of view that boils down to 3 main questions:

1. Do you actually need the cash? (i.e. urgent need without significant fiat savings to cover)

2. Are your current holdings a potential life altering amount? (subjective to the individual)

3. Are you prepared to pay the associated tax liability?

'What to do' of course is unique to the individual based on their objectives and personal situation. I think it's helpful to have a plan at the onset to avoid emotions taking over. If you're a swing trader, then set your targets and act on them. If you're a long-term HODLer, HODL. If you want to do a bit of both, keep your long-term holdings tucked away in cold storage to avoid the temptation to trade.