I do see people come here and declare themselves as long term holders of bitcoin because they are holding for weeks to months; they are right because previously they were into intraday or sessional/trend trading which may not last for more than six months.
But, bitcoin's cycle is 4 year long which means your long term should cover at least one full cycle of bitcoin markets.
To enjoy the real benefits of bitcoin investments, you must plan up for covering 3 to 5 cycles of bitcoin markets. Waiting period of more than 10 years may sound unrealistic to many people but I like to suggest them to google to know about the real power of decade long holding of famous stocks.
Yeah, there were stocks which transformed long term holders to multi-millionaires for the investment of $100 to $1000. Luckily, we do not have to break our head to find the right stock for long term holding in this crypto space; it is only bitcoin but to get 1000x returns, we must learn patience.
For the people, who argue that they cannot lock $1000 for year then they should plan up for $50 or $100; that is very basic. If we stick with basics of investments then we can easily convert deep bear markets of bitcoin into moderate ones.
Broadly speaking the Bear market is a threat to people who hate blood in the market and makes them afraid of losing their money and going into a panic sell, but there are those who make it an opportunity to increase the load or start investing in Bitcoin, I don't think it's necessary to wait until 10 years to reap enough profits doi Bitcoin, I can say it's very good patience or greed.
The DCA strategy starts from now on investing $ 1000 per month in 2023 until the halving time in 2024, it is enough to make profits, although not a thousand times.
If you want a sizable return you have to make a large and regular investment from now on.