Bitcoin has always been known for its large price movements, especially since 2017. But when is the right time to buy bitcoin? Research from Blockchaincenter shows that bitcoin has been profitable 64 percent of the days since the beginning of 2017.
Only loss in two periods
In other words, bitcoin has been in the plus since almost two-thirds of all days since 2017. In general, there are two periods in which you should not have bought. That is, if you take the current course as a starting point:
If you bought bitcoin in November or December 2017, you are still at a disadvantage. From November to December 2017, things went fast. The rate rose from 5,500 euros to the pinnacle of 16,600 euros in a month and a half! The rate is now lower than that period.
You also have a loss on many days after 15 May 2019. That is because the bitcoin rate has been in a downward trend since 26 June 2019.
Profit in all other periods
In all other cases you would now have a profit. How high that profit depends on when you bought. Did you buy bitcoin on January 1, 2017? Then you now have a 593 percent profit. And if you bought on December 27, 2019, you now have 1 percent profit (all bits help).
Another good indicator is the Return Of Investment (ROI) over a longer period. According to figures from BTC Direct you have a long-term profit. Below you can see the return on an investment in bitcoin, measured from three different moments:
Other crypto coins are doing a lot worse
64 percent of the time may sound like a gamble, but the rate of bitcoin performs better than that of other crypto coins. The absolute loser is Zcash, which is profitable in just one percent of the days since 2017. Dash is also scanty, with six percent profitable days since the beginning of 2017.
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