One of the best strategies in accumulating wealth is to make regular investments into stock index funds like the SPY ( S&P 500) or DOW ( Dow Jones 30) buying in all market conditions not trying to time the market has been a proven Strategy since the beginning of these markets, I have applied the strategy of buying $100 of Bitcoin at the beginning of each week going back to the beginning of 2017 with impressive results.
2017 $5200 of Bitcoin purchased over 52 weeks gave us a total of 2.6397 Bitcoin worth $26,904 at this weeks beginning price of $10192 that is a profit of $21,704
2018 $5200 of Bitcoin purchased over 52 weeks gave us a total of 0.750053 Bitcoin worth $ 7645 at this weeks opening price of $10192 that is a profit of $2245
2019 $2800 of Bitcoin purchased over 28 weeks gave us a total of 0.561265 Bitcoin worth $ 5720 at this weeks opening price of $10192 that is a profit of $ 2920
I will update this thread weekly,
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Excellent results!
Any plans to increase or decrease your buying during large, double-digit moves?
Impressive. Didn’t think of it this way. Same question as @BillyBobPimpton.
Buying the Dip is also a good strategy which the buy a little every week does do, and the year 2017 number include buying on Dec 18th when price was $19,379
I don’t think is is too late at all, and with the Central banks playing all their money printing games I see crypto being here to stay.
What does concern me is someone coming up with a better Bitcoin, Think how the Blackberry dominated the Business cell phone market and how iPhone in just a few years took away their whole market. There has been over 1,000 alt-coins and non have come close to unseating Bitcoin. For now I am all in with Bitcoin but will keep a eye over my shoulder
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Dollar cost averaging is a beautiful thing Nice one.
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Subb’ed! Looking forward to your updates. I may start doing this too.
Which platform do you use to trade? If you’re purchasing weekly, you must know a fee-friendly platform. Please do share
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Hi
Where do you keep your bit coin, digital vault or broker. any recommendation.
thanks
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Those are amazing results. Never was really into Bitcoin, however i’m starting to look into them now. I just want to know would this tactic work with cryptos with low values (such as XRP)??
Great strategy. I had been contemplating something like this for a while and hadn’t executed on it.Now given your numbers clearly I wish I had. Well its never too late. Thanks for the heads up…
Today’s BTC movements are a perfect example of whether you’re buying outside of your normal window. Just broke down below $9600 off of an $11K high just yesterday.
Here in the US, I use CoinBase
Nice deep pullback today, a move down to 8K is possible from here,
this is a great instrument to train yourself to buy on the dip and not chase the rips
I do own a little bit of Litecoin and Ether. So far none of these alt coins have been able to keep pace with Bitcoin
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Your strategy has intrigued me to have a go at it or similar. Do you hodl all? Or do you make trades along the way?
Very interesting observation regarding Blackberry. Something to keep eyes peeled for, for sure
When it has deep pullbacks, do you end up doubling down? Or do you continue to still put in $100?
More importantly, when do you schedule cash outs?
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Thanks for sharing Man.
God bless you for that!
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I am holding and adding more, if we get another crazy up move I might sell enough to get back my out of pocket investment then sit back and let my profits run,
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what scares my about Libra is Facebook, they are plan EVIL just like Google. What happens when Google, Facebook and Amazon all have their own coin, this could get crazy and some how I don’t see the US Federal Reserve allowing this