In fact, if you hold on long-term, the risk will be very low, but not risk-free, of course there are some risks involved. Now the DCA strategy is the best strategy to invest in Bitcoin, if someone plans to invest in Bitcoin then if he chooses DCA strategy then there is no need to wait for his price to fall, because investing in Bitcoin in DCA method will be able to buy at average price. If you invest in DCA method, you can gradually increase the amount of investment, if someone continues to invest in DCA strategy with a small amount of money, then at some point the amount of investment will be quite large. Now the investment has to continue with DCA strategy and long term plan. I've heard the stories of some people who invested in the DCA strategy on a weekly basis but weren't able to hold on long-term, because they didn't have a long-term plan, so whatever method you invest in must have the ability to hold on long-term.
The DCA accumulating strategy is wired to be a success on the longer run, so anyone that really wants to be successful in his investment while investing through the dca accumulating strategy needs to have it at the back of his minds that he must be thinking long term.
Concerning the bold statement that you made, sometimes it's not about having a long term plan or not, it is about putting down measures to safeguard your Bitcoin investment against any unforseen circumstances that may warrant you to temper with your Bitcoin investment, that is why sir jayjuangee has always emphasize on the importance of emergency and reserve funds in Bitcoin investment, because emergency situation will definitely come, but if you don't have it in place to protect your investment, your Bitcoin investment is doomed if any emergencies arise while investing. I think you're correct here investing in bitcoin is not only all about having a long term mindset, you also need to put down some measures to safe guard your bitcoin investment for the long term, because I myself personally believe that it is not only the amount of bitcoin you are holding in your wallet that will determine your success in your bitcoin investment journey, for there are some measures you have to put down which are: securing your bitcoin wallet from thieves and scammers, also by setting up emergency fund and backup fund to enable you not to temper with your bitcoin holding, if in case emergencies arise along the line, so that there will be emergency fund to handle those emergencies instead of tempering with your bitcoin holding.
Whoever that comes to invest in bitcoin without a long term mindset of consistently accumulating bitcoin and hodl is a trader and not a bitcoin investor. Bitcoin investment is a long term investment and at such whoever that’s venturing in it must have the long term investment mindset which is the key and it is from such mindset you’ll begin to have the zeal of making other necessary arrangements in protecting your bitcoin assets and also build an emergency funds to support your long term holdings. For me, the most importantly is for an individual to have the long term investment mindset after figuring out a discretionary income to invest with, because such long term mindset is what will fuel an individual to make these other necessary arrangements towards safeguarding his holdings.