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If You Bought Bitcoin Each Week in 2019, You’d Be up 49%

2 mins
Updated by Kyle Baird
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If you would have averaged your Bitcoin buys weekly, you’d be up by almost 50% for the year—an impressive statistic that proves it is smart to spread out your buys.
Does averaging out your buys instead of going ‘all in’ make for a better strategy? With making large buys, it’s about timing the market. However, averaging out your Bitcoin buys over a longer period of time has brought great returns for investors this year. As cryptocurrency influencer Anthony Pompliano (@APompliano) writes on Twitter, if you had bought $10 of Bitcoin each week in 2019, you’d be up 49% currently. 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. 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. Bitcoin 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.
Images are courtesy of Shutterstock, Twitter.
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Anton Lucian
Raised in the U.S, Lucian graduated with a BA in economic history. An accomplished freelance journalist, he specializes in writing about the cryptocurrency space and the digital...