The skills of the investor will determine which strategy is the best for each one of them, since an investor that is skilled at reading the markets can buy the dip in a very effective manner and obtain more profits this way.
However, for someone that cannot do this, buying the dip is a strategy that will only bring them losses and headaches, so the best strategy for them is to simply employ the DCA strategy and be happy with whatever profits they can get.
You're right, it will depend on each investor's skills and preferences. But I think buying a lump sum won't bring any loss or harm to someone as long as they don't sell their bitcoins if the price drops more after the buying. Don't forget that 1BTC=1BTC and as long as we can hold until bitcoin recovers and increases strongly, there will never be a loss.
Personally, I also prefer a one-time purchase rather than using a DCA strategy. I like to take risks and a one-time purchase will probably give me the maximum profit, and if unfortunately the price I have to pay is just holding on to it longer than I expected, but I won't lose as long as I don't sell.
Whatever strategy you choose to go about your investment in Bitcoin, inasmuch as you have a long term targets you never gonna be at a loss. Using the DCA isn't a bad strategy because it keeps you accumulating more Bitcoin and you can still lump sum when a dip occurs but it doesn't mean that you will lump sum at a go and stop buying, you can still continue accumulating to increase your portfolio. Since it is only the price of Bitcoin that fluctuates due to it's volatile nature whereas the amount of the value of Bitcoin you've bought doesn't change, you shouldn't be afraid of the price falling since the quantity remains as it is.
Those that loses are only the short term investors and those that always panic when a dip is occurring because they sell at loss. I have been a victim of selling when a dip was occurring and I sold out of fear that the price will keep dipping but funny enough not up to 2 hours after I sold, the price was skyrocketing even for days and i felt very bad because if i was patient enough i wouldn't have incurred those losses. Just have a long term goal in your investment in Bitcoin and you will never sell at a loss.
