From a point of view of hodler, it would have been better if the magnitude of bull cycles slowed down later. It's still so volatile that most people aren't ready to use it as a currency, so why not hope for bigger bull runs while we're at it?
I mean, sure I would probably agree that the current situation means Bitcoin isn't great as a currency, but there are people out there that do use it as one. Most people I know that are serious about Bitcoin are currently holding or investing somewhat regularly. Although, I would say most of the
adoption we've had is from speculative investors so they aren't exactly healthy for the currency in the long term, since most will likely want to get out. Therefore, it could be suggested that these investors could actually mean there will be more frequent bull runs, rather than longer ones which could actually effect the confidence of others in Bitcoin.
I just don't think its as black, and white as it might appear. Bull runs are exciting, and everyone wishes they invested sooner, and the bull run lasted longer. However, I'm actually not that bothered by how Bitcoin reacts in the short term. In fact, I would personally like to keep Bitcoin as low as possible for the time being, so we could acquire more for services provided.