Jared has been in cryptocurrency for years and he shares his experiences on Medium. In one of his latest articles, he argues for “dollar cost averaging” or your crypto purchasing resources. And that is certainly interesting for newcomers who want to invest for the long term.
Not so long ago, Bitcoin crossed the border of ten thousand dollars. If you look at the rate of 2019 you will see that bitcoin is on the rise. We started the year rocking between three thousand dollars and see where we are now! Now the question is for many who do not yet have a bitcoin but would like to get in: am I late? Do I have to wait for a lower buy-in price?
The same question is not only being asked now (when passing a value of ten thousand dollars), it was already asked in January of this year. “Do I have to wait until bitcoin is under three thousand dollars?” After all, the right moment is almost unpredictable in such a dynamic market.
Did you know that if you just bought $ 1 or Bitcoin every day for the last 9 years you would have turned ~ $ 3,285 into about $ 18M by accumulating 2189 BTC? Just launched a tool to explore how DCA strategies would have performed using historic btc prices! https://t.co/DohCQ7C9S8
– John Cantrell (@ JohnCantrell97) June 14, 2019
Investopedia describes dollar cost averaging as follows: “Dollar-Cost Averaging is a strategy that allows an investor to buy the same dollar amount or an investment at regular intervals. The purchases occur regardless of the asset’s price. ”So you buy bitcoin for a fixed amount at a fixed time in the week or in the month. Regardless of how the price is at that moment.
A few examples:
Jared lists the benefits of resources:
2 / Reminder that BTC generally generates all of its performance within 10D or any year.
–Ex the top 10 days, BTC is down 25% annually since 2013 pic.twitter.com/zoEocEEZvu– Thomas Lee (@fundstrat) April 2, 2019
This is not an investment advice but a summary of the Jared on Medium article.
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