Will the price reach upto $550 at the end of January, 2016 ? The rate at which it is going up it feels like the price will reach it's peak upto $550 but not more than that until the next reward halving (probably in mid-July, 2016). Till then, please hold your coins
I don't know about your logic here. Surely there are some upside limitations in BTC price movements based on the bears ability to bring us back down from upward price spikes, nonetheless the current price trend remains upward, and surely anywhere between $550 and $5,500 is possible for this calendar year's new high point.
I have my doubts about breaching into 4 digits this calendar year, but I would not rule it out. Furthermore, the halfing is a known event, and I am kind of with you about the real material potential impact to have new coin creation to be halfed - however, since halfing remains a known event and it is widely discussed and widely in the minds of bitcoin aficionados, it is likely to begin to have impacts on upward price pressures, well before it actually takes place.
Mostly I agree with your comment about holding on to your coins, because if you sell any, you should be attempting to buy back at reasonable periods soon thereafter - because the price direction seems to remain upward and given the sheer increases in trade volume in the past weeks there are likely to occur some unanticipated spikes in prices that may not return to base points.