Absolutely right, and DCA investing solves the problem of trying to guess the bottom of the price.
Related story: recently a friend of mine started saying that gambling and trading are very similar, and he claimed that they are unpredictable. I just opened my mouth to object, and suddenly realized that the price of Bitcoin is really impossible to predict. It is easy to tie events after the price has moved, but no one knows the course of the price in advance. This is the difference between guessing (trading) and smart DCA investing.
Hopefully, none of us are claiming to know anything or trying to guess, especially short term BTC price movements, so if we generally have some ideas that bitcoin prices are likely to be higher 4-10 years or longer as compared to what they are today, and we also have a general expectation that the amount of the BTC price increases is likely to be at least better than the debasement of the dollar, then perhaps it would be better to have some allocation in bitcoin, including money that we don't mind tying up for 4-10 years or longer.
I doubt that we are really predicting, yet we can still try to figure out our position size in such a way that we realize that the most that we could lose is 100%, and so we just kind of hope it works out in our 4-10 year or longer investment timeline..and that we will be in better position for having had invested into bitcoin as compared to if we had not invested into bitcoin.
And this is right, because there is constant inflation in the world and even the dollar is depreciating. Of course, banks in our countries offer each of us deposits in dollars, but they have very small interest rates, especially since the condition for storing is giving your own money to the bank.
Therefore, it is much better to invest in Bitcoin, and for both experienced and beginners, the best approach is to periodically buy without trying to guess the bottom of the price in the current period.
This problem is now very common in developing countries where common people do not feel safe keeping money in banks. There are many banks in our country which are waiting to declare themselves bankrupt. There are also many customers who have deposited their entire life money in a single bank that now the bank is not giving them cash and when they ask the bank about this, the bank directly tells them that they have a cash crisis right now. My point is that I put my money in the bank for safety, if I can't withdraw that money from the bank when I need it, then why I put money in this bank.
Now maybe the customers of these banks are asking themselves this question but they are not getting the correct answer from the bank authority.
If these customers had invested in bitcoins instead of keeping money in the bank, their profits would have multiplied as well as they could have withdrawn the money whenever they wanted.