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Waiting for the right downturn is a bad strategy because no one can predict the market, and it can change at any time. That is why the bitcoin market is frequently referred to as unpredictable; it may change without notice. To be honest, the dollar cost average has decreased a lot of tension when it comes to accumulating bitcoins, as well as those who are not serious enough to grow their portfolio, which means their lack consistency and patience, which is necessary things in all cryptocurrency.
Currently, Bitcoin's price has risen again, surpassing $116,000 and even approaching $117,000. This means those waiting for Bitcoin to drop should abandon Bitcoin or adopt a new strategy if they still want to buy Bitcoin at this current price. Waiting will only slow down the accumulation of Bitcoin into their portfolios, while others continue to aggressively buy using any means, including DCA, to increase their Bitcoin assets. Therefore, for those who are still waiting for Bitcoin to drop, it's best to adopt a different strategy and approach if they still want to hold Bitcoin, because Bitcoin doesn't wait for anyone to increase its price in the market.
Although, it's not easy to predict the price of Bitcoin in the future but considering the way Bitcoin is gaining momentum, it's not a good investment decision to wait for Bitcoin to drop to a certain price before investing because you cannot easily predict the price and I would say that any investor that is aiming to invest when the price will drop is not really ready to invest in Bitcoin. However, instead of waiting for the price to drop it will make more sense to adopt DCA method of investment regardless of the price of Bitcoin at that particular moment.