Your suggestion is spot on and part of my plan. There's no taxation until you sell into fiat. The bridges to convert to dai without having to loose a lot in fees are available. I only need to determine what percentage to convert. Things are much clearer than they were in 2017.
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Sure, we are one cycle behind. And there might be only 1-2 cycles like we know, in the future. Maybe more, but if the price will be 1 million and the difference between 1 BTC for new block in 10 minutes compared to 0,5 BTC...is not as significant as 50 and 25, or 25 and 12,5.....
I think there are few DEXes or Shapeshift/Changelly, which might do this quickly with low fees. I mean from BTC to DAI for example, or ETH to DAI. Then you can lock it on Compound or anywhere else for 6% for 1-2 years to wait for another move up from the dip.
Excellent strategy.