That should be true, but I think some investors who intend to hold Bitcoin in the long term also often look at Bitcoin price movements to be able to enter at the lowest price to get the best price so they can accumulate more Bitcoin.
Waiting for price to drop before you buy is not an effective and recommended way of going about investing in Bitcoin because that could lead to a lot of problems for you. First you may never know where the bottom is since the price fluctuates so much, hence you will end up in confusion on which low to buy and eventually end up not buying. Secondly, if price refuses to drop within the time you have the funds to invest and you increase the waiting time, there is high chance that you might use the money for another thing that is not Bitcoin investment, you know how money is and how easily you can spend it. This is why it is better to adopt a continuous buying method like the DCA that does not care about the price but only focused in buying Bitcoin weekly or monthly as it will be convenient for the investor.
Waiting to invest is never a good idea. If a person waits to invest, he may miss out on many buying opportunities. For example, a few days ago, there was a big decline in the Bitcoin market, when the price of Bitcoin fell a lot. If a person waited for a further decline at that time and could not buy at that time, then he missed the opportunity to buy and now he may regret it very much. So, waiting for a decline is never a good idea. You should always continue buying using the DCA method.
If you have some money, you should never wait for a decline. If you have money to invest, you should invest it immediately. The longer you delay investing, the more you will fall behind your portfolio goals.
We actually do not have a complete understanding of the market and we do not have a clear idea of when the Bitcoin market will increase a lot and when the market will suddenly fall down a lot. So if we wait in such a way that we will invest in Bitcoin when the price of Bitcoin comes down relatively low, then we may miss many opportunities. Without waiting like this, we can start investing and maintain the continuity of this investment. We should invest with the amount of money we have without considering investment as an additional pressure. This way, an investor will be able to buy Bitcoin at every price level and his confidence in his own investment will increase.
I do not know how many people actually think about these investment issues in this way, but those who think and invest in this way will definitely have a higher chance of success from this investment than other investors.