Well, for day traders volatility makes a lot of sense as they try their best to make as much profit as possible per day and that can happen only because of the volatility of Bitcoin. In fact in some market conditions I personally trade with just 3 minute and 5 minute charts to make some quick bucks.

However, I agree that those who want to invest in Bitcoin should avoid short time frames as those aren't going to be helpful for their long term investing. Sometimes when I think about long term accumulation then I often look at daily/weekly and a few times at monthly chart of Bitcoin. That way I can accumulate some Bitcoin and make profit by selling it for 10% to 20% profit.