One thing I've learned in my short period of bitcoin investment is that dips and downward volatility causes higher panic when you don't investment with discretion. Also, buying by DCA also eases the stress of downward volatility since an investor seizes every dip to buy and has little or no time to think about the previous one bought at higher prices. Imagine buying bitcoin at 96k and eventually buying again at 80k, an investor actually feels he has gained an equivalent $16k knowing fully well that the market volatility doesn't go downwards always hence there's hope that bitcoin will still go above 96k.
That you buy by DCA does not make you want to always buy at higher prices than the previous buys. This is one of the best advantages of DCA and Discretionary income-based investment strategy. Beginners that understand this trend won't panic nor want to sell off his bitcoin accumulation over slight market change. Investing by lump-sum is good, but whenever market "dips too low" by their standards, regrets set in because most lump-sum investments are not done with only discretionary income and sometimes greed-motivated.
The longer an investor stays in buying and holding Bitcoin the more they'll realise that there's no reason to panic when the price tends to go downwards cause by then they would've got experience and understand how the market operates, it's only people with less experience that panics whenever there's a downtrend in the market, that's why every investor needs to stick to the concept of holding Bitcoin for long so they won't end up like those who panic over every down trend of the market, experience they say is the best teacher, it's inexperience that make people ignorance. Well, most beginners might have learnt from other old investors experience or maybe from a long-term holder that introduced them into investing in Bitcoin that's why they're suprisenly steadfast to holding Bitcoin than their pairs, that's why they don't panic since they seen someone profits from it, they tend to believe and understand what it takes to be a true bitcoin investor. Anyways it doesn't matter the strategy an investor uses, whether lump-sum or DCA, once some goes against the concept of Bitcoin investment and investment maybe due to greed or whatever they'll tend to fail by selling at lose.