The 'HODL' bitcoin strategy involves purchasing bitcoin and holding it for a long time. The term Hold on for dear life comes from a popular cryptocurrency forum. The misspelled word "hold" gave rise to the expression. That said, this remark should not be taken too seriously - only buy and hold bitcoin if you believe in its long-term value. According to your analysis or trading plan, you should either sell your holdings for a profit or minimize your losses; alternatively, set up stop losses to automatically end your positions.