Inasmuch as investment in concerned, every investor is actually interested in a coin that it's future is certain that's why a lot of the investors are involved in Bitcoin. Moreover, you need to understand that despite the popularity of Bitcoin, it's still very much young looking at when it was invented till now so it's gonna take few more years before it's authenticity can be visible for all to see though it takes patience for an investor to make profitable and long lasting investments.
How do you know how long it is going to take for bitcoin's authenticity will be visible for all to see? We might not get authenticity in bitcoin for another 50-100 years. And what does authenticity mean exactly? There have been certain bitcoin supporters who have already been considering bitcoin to be authentic in the last 10-15 years, and sure there is even variation in terms of how long it might take someone to become convinced about bitcoin, and even if bitcoin might be a one way street for a lot of people who learn about it, there are going to be a lot of folks who do not learn hardly anything about anything, but they merely do what everyone else is doing... so there are some people who consider bitcoin authentic because that is what everyone else is doing, or if they want to buy eggs at the corner stand rather than at the store, the farmer only takes bitcoin, so they have to figure out a way to get bitcoin because they prefer the farmers eggs rather than the store's eggs.
I quite agree with you on this because there are whole lots of people that got involved in Bitcoin investment not actually because they are interested but because people are more enticed by hype and trends so whichever way they see majority going towards with their investments, that's where they would focus their energy as well and just like you said there are still people that believes that Bitcoin has gained authenticity because looking from when it was invented and to still beat every other coin to become the most sort after coin means a lot to bitcoin investors and moreover the approval of spot Bitcoin ETFs by SEC also aided more investors to be fully guaranteed of the security of their assets hence they believe it's authentic.
Let the truth be told most people are just interested in short term profits because they're always afraid of the fluctuations in the price of Bitcoin in the market hence they always panic whenever they buy at a dip and instead of the price rising it still dips further but they fail to understand that every dip gives and opportunity to accumulate more and hold for long term profits.
You are correct that we probably don't really know how much of a dip there is going to be at any given time, but still I wonder how many people actually are involved in this process of buying bitcoin, probably less than 1% of the world's population, even though there are some parts of the world in which there are higher percentages of the population who both know about bitcoin and are involved in buying it regularly.
Yeah actually some investors keeps waiting for a dip and when the dip doesn't come forth they lose interest and doesn't buy anymore Bitcoin because they feel the price is too high even when it hasn't reached it's ATH and just like you said, the percentage of people buying Bitcoin is so low as many who buy only does that for a short term just for the price to go high and they sell it off which is a very bad habit because an investor that can't be patient enough to allow his investments grow is likely to incur more losses while trying to trade his coin after when the price skyrockets because even if he sells at a higher price he can't buy at a lower price again. Those part of the world that's shows more interest in buying and holdling Bitcoin are rather countries in which the adoption of Bitcoin has been legalized thereby giving all individuals in that part of the world the liberty to buy, hodl and trade with bitcoins.