Bicoin Dollar cost averaging

Dollar cost averaging is an investment term, that involves periodically buying an asset with the same amount over time. what currently happens is perhaps you hear bitcoin is about to go on a bull run, so you scramble and buy a lot of bitcoin, but what if your wrong and it's price suddenly drops you lose a whole lot of your investment, dollar cost averaging is a long term plan, irrespective of bitcoin price you buy the same amount monthly say 50dollars, this way you can guard against sudden changes in price and still have a long term investment. so what do you think?, can dollar cost averaging work with bitcoin and other cryptocurrencies?