Although the situation was far worse in 2018, the cost-averaging strategy would have also worked during the height of the bear market. If you had bought $10 worth of BTC every week since the beginning of 2018, you’d be up 27% currently. However, it gets even better if we take it back to 2017. If you had spent $10 weekly on BTC since the beginning of 2017, you’d be up 156% now.
0/ If you bought $10 of Bitcoin each week for the last year, you would be up 49% currently. pic.twitter.com/EJAzSlmdj6— Pomp 🌪 (@APompliano) November 25, 2019
These are undoubtedly impressive numbers and speak to Bitcoin’s strength as a long-term investment. Given the recent market turbulence and the apparent panic in the market, it’s important to keep these long-term perspectives in mind. Cost-averaging your buys works even when the bear market was at its worst in 2018. So, with all this in mind, we shouldn’t be spooked by extreme volatility or feel rushed to sell our Bitcoin. Long-term trends point towards consistent gains—and with the halving coming up in May 2020, there is the potential that next year will be especially noteworthy. So, if you are confused about when to jump into Bitcoin or how to time your buys, just average it out consistently over time. This way, you won’t stress over daily price movements. It’s a useful strategy, not only to reap long-term profit but to keep a peace of mind despite the unpredictable market chaos.
2/ If you bought $10 of Bitcoin each week for the last three years, you would be up 156% currently. pic.twitter.com/sBuxZRTWTr— Pomp 🌪 (@APompliano) November 25, 2019
Images are courtesy of Shutterstock, Twitter.
Did you know you can trade sign-up to trade Bitcoin and many leading altcoins with a multiplier of up to 100x on a safe and secure exchange with the lowest fees — with only an email address? Well, now you do! Click here to get started on StormGain!
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.