Talking about buying the dip and holding it in long term, we should consider this word "patient" because any investors that is patient enough can't never wait for a long term investment than going for short term investment, some investors didn't have have self discipline when it comes to wait for a long term, that is why many are going for a short term investment, assuming Bitcoin can invent or program their way of investments from like 5 years up, so that many investors will not being using Bitcoin as a betting opportunity, since many make use of short term instead of long term investment.
In my own opinion on this is that anybody that buys Bitcoin for short term plan is a trader and not an investor. Bitcoin investment require a lot of patience to Hodl especially for an investor that wants to be profitable in the Long term. So any investor that's is impatient to Hodl for a long term is not an investor but a trader. Traders are always the impatient people in bitcoin investments,they don't have the patients to Hodl for a long time and as such they buy Bitcoin only for them to sell it for minimal gains. Bitcoin investment is not a rich - quick schemes and so therefore any investor that's venture into bitcoin and doesn't have the patience to Hold for a long term does that at his own peril because he either sell his Bitcoin for minimal gains or he will be selling it at loss.