I think it is not a bad idea to hold as long as you don't plan to just forget about it and still follow news, so that you are aware if any regulations are made that could jeopardize your holdings.
But there is one thing I think might be better, or at least safer: set price targets, so if your coin of choice goes really high (after which a correction can always be expected) sell, then if you think the price will go even higher, you can buy again using a part of your profits, and/or if the price drops, you can buy again and wait for another rally.