I don't have much knowledge about Bitcoin, I just have basic idea of Bitcoin. And I haven't started bitcoin investment yet, but I have plans to invest in bitcoin in the future, and I will hold my investment for a long time. With the rate at which Bitcoin has risen today, it seems like I missed a good opportunity. If I had started investing 1 week earlier, I would have already made a good amount of profit. However now the price of Bitcoin is very high, so I am waiting for a dumping, when I get a good dumping I will start investing.
Just like you said, it's obvious you don't understand it or have a good idea about Bitcoin and yes it is true that you have missed a lot for nothing investing in Bitcoin before now but that doesn't mean you can't invest again. You said you want to invest for long term but with what you just said about profit I guess you would've sell your Bitcoin if you have invested in Bitcoin and that's a short term investment in other words trading. Secondly waiting for a dump is not the best idea or a strategy per say because it may not dump to the entering point you are waiting for perhaps you should start buying little by little using the dollar cost average ( DCA) strategy if actually you want to invest and don't want to miss another opportunity.
NOTE: don't always wait for dump or Dip rather invest little by little and at same time prepare in case there's Dip.