as a fellow bitcoin investor, what strategies have you found to be most effective, to maximizing your returns while minimizing risk?
Just HODL.
do you prefer to hold bitcoin for the long term or you actively trade based on market trends?
And I have chosen to be a long term holding because I have done it myself and experienced how it's easy to make money through just holding. At least for those who have experienced holding, it's easy but for those that lack experience then it means that it's not.
and what resources or tools do you use to stay updated on the latest news and analysis related to bitcoin and other cryptocurrencies?(or you does not care about most of the news)
The typical crypto news articles and websites are enough and the forum as a resource for it is more than enough. You can browse everyday or register to the newsletters of those websites if you want to.