Going by people's reason for investing in bitcoin, one can not expect everyone to be the same. The only goal which is common to many is buying the Dip and hodl. To me, the expected gain is no longer much of my drive because based on the way it is going, bitcoin future is definite and will be better.
i can bet what you call many are the ones that are either new investors, traders or people that are just in for the quick profit hence the reason why they will want to look for the best price to come in and opt out once they have made the slightest profit.
buying the DIP is not always the best approach for investors and because of that, a lot of serious investors don't consider it a method they should be working with. looking at the market condition at the moment or for some months back, if you were waiting for the DIP, do you know how long you will have to wait before getting to a comfortable point you would prefer to buy and likely, that point might never come again. to avoid this endless waiting period and issues that comes attempting to buy only the DIP, the DCA is now a better alternative that helps one buy his bitcoin and stay invested for the long term.
Inasmuch as investment is concern time and patience are very crucial factors to be considered and they are the major things that drive every investment. Now come to think of what will be the profit of someone that purchased five bitcoins in 2011 when the price was about $1.00 and patiently hold the five Bitcoin till now that the price is about $100000 per Bitcoin.
The reason for investment is to make profit and this is a factor of time, patience and knowing the best strategies that will sustain the investme for longer time in order to bring a reasonable return in the future, so no investor will be happy when the value of his investment is going down instead of appreciating but if the investor critically learn the entire cycle of the system it enable the investor to have more courage and patient, knowing that the price of Bitcoin is unstable and as such will appreciate in the near future.
Most people just abandoned Bitcoin when the price is very very low. They don't even think that the price can surge and hit $100.000 because they think that is impossible. But then when the price slowly increase and hit many new ATH, they will start pay attention to Bitcoin although they still not trying to buy and hold Bitcoin.
They don't think to use Bitcoin as their investment because they are still prefer with their current investment such as gold and others. Or they don't want to open their minds to see the other opportunity to become rich in the future.
Your argument is completely different because when the price of Bitcoin starts to fall, investors buy dip into Bitcoin. Look at yours and see that those who bought the Bitcoin deep in 2022 have benefited the most, their investments have reached the peak of their success today.
even though people naturally like to invest at the time the market is at a DIP, the sentiment he shares is not one that completely strange because during the DIP, a lot of proper procrastinate and don't feel comfortable investing because they feel that the market will continue to go down. those are not real investors but are only procrastinators that can never enjoy the dividend of bitcoin investment because they are just after an ideal investment situation that might never come in the end.
procrastinators will always find a reason to give excuses at the DIP, bull and at every market condition and that only serves to stagnate their portfolio. if you want to get the best out of your investment, it is expected that you become as intentional as possible and think more of a positive in the midst of all the market condition you will experience both as an early and an old-time investor.