DCA is effective in the process of averaging against volatility and putting purchases in an ordinary income stream, however, when you have a lump sum, it may be worthwhile to buy on the downside or buy more actively. It all depends on whether you have an effective plan and with a clear plan, you should not touch on monies that are likely to impact on your necessities. Basically, both strategies can be applied using the same capital, it is primarily a matter of timing, risk-taking, and disciplineness when using discretionary funds.
The discretionary income to be used depends on the level of your comfort and not even about the market environment and If you say buying on a Lump sum is worth while buying on the down side then to me you are describing buying the dip and not buying with the lump sum, because talking about buying with the lump sum has nothing to do with the market conditions but rather an investor decision to buy immediately with the available Lump sum amount irrespective of the market conditions,
You are right, however I believe that some people prefer not to invest all of their money at once without thinking about market conditions first. Sure, a lump sum means you invest everything all at once, but not everyone is comfortable with that.
Many people choose to wait for a better price before investing their money, because no one wants to buy when the market is too high.So, buying the dip and lump sum are not the same thing, it's just that people do their things differently. Some may decide to invest their money once, while others will wait for a dip. But, in the end, it will depends on how the person thinks and the kind of risk they are willing to take.
Your statement alone shows you're a trader because it is only traders that frequently monitors the Market to hoping the perfect time to buy Bitcoin which is very wrong. If you think as a trader you can outsmart the market,then your re dreaming because no one have ever outsmarted the market. The time you will be wasting waiting for the perfect timing to buy Bitcoin would have been used to stack up Bitcoin. In other for you to save yourself the stress of timing the market waiting for the perfect price that non realistic and for you not to miss out good market opportunity,it is best for you to start investing in Bitcoin for the long term. By Investing for the long term using the DCA strategy,you can be Buying/accumulating bitcoin consistently weekly or monthly regardless of the price They will be no point of timing the market anymore if you're investing/Hodl for the long term, you can just be buying Bitcoin whenever your discretional income is available.