When is it a good time to buy bitcoin? In my opinion, always. As Bitcoin continues to grow and appreciate dollar cost averaging is an excellent way to accumulate bitcoin.
Dollar Cost Averaging
Instead of losing sleep tracking the market to trade crypto, one would commit to a steady purchase over time. For example, say you get paid every other Friday. You can then set up a bitcoin savings plan where $50.00 of bitcoin is purchased every two weeks. Bitcoin can be quite volatile at times. Dollar Cost Averaging is a way to accumulate bitcoin without the stress of crazy market movements.
Purchasing $50 of bitcoin every two weeks from January 1st, 2019 through January 1st, 2021, you would have turned $2,650 into $9,109. That’s a 243% gain! See the specs here.
Since 1950 the dollar has lost 90% of its purchasing power. As the dollar’s purchasing power continues to fall due to the endless printing of those dollars, Bitcoin’s fixed supply becomes a solid store of value for the long term.
Don’t worry about timing the market when purchasing bitcoin. You can set up recurring purchases with the frequency of your choice. Not only can you dollar cost average bitcoin but other cryptocurrencies as well.
Set up daily, weekly, or monthly purchasing options to steadily convert your dollars to Bitcoin savings. With Coinbase, it’s easy to set up a bitcoin savings plan. When you sign up with Coinbase, get $10 in BTC when you buy or sell $100 worth of BTC.
How It Works
- Sign up with Cash App, Coinbase, or Robinhood.
- Create a recurring purchase plan to buy a set amount of Bitcoin, or other cryptocurrency, of your choice daily, weekly, or monthly.
- Crypto will be automatically be purchased and delivered to your wallet and stored with a secured licensed and regulated custodian.
Conclusion
It’s always a good time to buy Bitcoin. Dollar Cost Averaging your Bitcoin purchases helps minimize exposure to high market volatility. Steadily accumulate bitcoin over time. With Bitcoin’s limited supply, demand is likely to rise, further lifting its value.
