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When it comes to buying crypto we all know that we should be "buying the dips" but really does this always work out or even happen in a timely manner for it to pay off even more so during a bull run.
So this has had me thinking as I buy into bitcoin and other crypto projects is it worth buying on once a week or making small daily buys. The thought was never really around till the place called Shakepay had introduced recurring buys.
>Dollar-cost averaging (DCA) is an investment strategy in which an investor divides up the total amount to be invested across periodic purchases of a target asset in an effort to reduce the impact of volatility on the overall purchase.
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7 Daily Buys
When I started this I was not sure if it would be worth it buying 1$ a day and that equal to only 7$ a week that was not going to really be enough to make a real assessment.
Over the 7 days you can see the price dipped quite a bit up 18k and back down 16k, This had allowed me to buy 0.00020844 BTC over the course of 7 days.
14 Dollar Buy
I decided that it would be best to buy the BTC on the 7th day to fully compare the final amount.
With day 7 buy being 0.00022156 BTC and the daily buy being 0.0020844 BTC the difference was 0.00001312 BTC with buying once a week, in this case, netting more BTC. If you notice the dip to 58k I would have netted even more BTC. So maybe the best is waiting for the dip?
I am going to keep doing this over the next few weeks to see what in the end after say 12 weeks nets more BTC.
* All prices are in Canadian dollars.
