I saw this and I felt my day was ruined abruptly. Imagine who had bought bitcoin in 2012 and is holding down to this period, such person would be able to buy at least 8 homes now. Sometimes when we talk about buying bitcoin at the stage you meet it, some people don't tend to understand how important it is. Just because bitcoin looks costly today doesn't make it costly by tomorrow. Bitcoin is a store of value and always maintaining a rise. This chart also throws light on the importance of holding through bitcoin cycles (4-10 years) of which thing chart focuses more on 4 years interval. A bitcoin investor is supposed to be a wise decision maker who takes every bitcoin price as a dip and buys consistently. Setting your DCA approach is the easiest way to achieve a continuous buys and holding.
And talking about mentally readiness for price fluctuation for new investors, there is need to be investing smaller amounts of money that is being more conservative just as they will be gaining more confidence about the market experience most times is the best teacher.
Encouraging new investors to commit small amount of money to bitcoin at the beginning is not even necessary even though you might be making some sense on the basis that their emotions will not be engaged in the investment after all since the money is small. I think there are more important things to advise newbies such as developing the mindset of long-term investment without expecting to become rich the next day, which is the root cause of impatience and by extension, the problems most new investors encounter in bitcoin. If the mindset is right from the beginning, they will do better on the long run.