If an investor is investing in Bitcoin with a long term mindset, and the investor is depending on the market conditions to accumulate Bitcoin, that's not an effective way to invest in Bitcoin. The investor won't accumulate a good quantity of Bitcoin even if he/she has good discretionary income because if the price of Bitcoin doesn't drop to his/her taste, he/she won't be willing to invest in Bitcoin, and it will cause him/her to miss a lot of good opportunities to accumulate Bitcoin. Bitcoin investment is best done when you are very consistent in accumulating Bitcoin with your discretionary income when it is available without waiting for any market condition. So even if investors will want to invest in Bitcoin when the Bitcoin price drops to the level they will be satisfied with, they should have an ongoing DCA strategy so that it will help them to be consistent in accumulating Bitcoin to a chance to accumulate a good quantity of Bitcoin.
You make a lot of sense in your statements, I think if I’m investing in bitcoin with the purpose of long term plans, it’ will not be reasonable for me to be waiting for the market price to drop before trying to buy bitcoin, that will be a very poor and unreasonable decision, because the more effective method of investing in bitcoin is staying ahead and consistent with buying and accumulating bitcoin because waiting will make and individual miss out on tremendous opportunities of buying and accumulating bitcoin, as long as I have a discretionary income I think it will be more ideal if I’m able to keep buying and holding, the reality would just be that considering the volatile nature of Bitcoin we wouldn’t always have a comfortable market price, but for someone that understands the full potential of Bitcoin would keep buying and accumulating.
I also agree that if you have a long-term investment mindset, waiting for the market to fall can be the wrong approach. Because it misses opportunities and can hinder your investment goals. It is really difficult to predict when the market will rise and when it will fall in assets like Bitcoin. There are many investors who think that if the price falls, they will enter the market if the price falls a little more, but then instead of falling, they retreat when the price rises again. Those who wait for the price to fall or rise are basically trading. Those who trade basically think that they will buy if the price falls and sell if the price rises. If the objective is long-term investment, then there is no need to wait for the price. A long-term investor will continue to invest regularly whether the market price is low or high. If you have a long-term mindset, DCA is the best medium in this case. Here you can invest in small portions at a certain time. If you want, you can invest here even with $ 10. If you invest in small portions regularly, you do not have to worry about the market going up and down. So, if you have a long-term goal, you should start investing with some basic ideas rather than sitting around. In this case, it is wise to start with a small amount, no matter how small.