I have to admit, I’m super new to bitcoin. I had a little bit ($50 worth) a few years back but sold it for $100.
I started a recurring buy for $4/day on October 27th, basically the start of the ATH. I did this for 2 reasons.
I don’t have a lot of money
I had a feeling the market was about to correct itself and didn’t want to buy at the ATH if it was about to “crash”.
But here’s why buying every single day is great:
It’s $4/day. I don’t even see it, I don’t even miss it in my bank account.
When bitcoin goes down, my $4 buys more bitcoin then the previous day
When bitcoin goes up, I’m making making money.
That first week and a half I was buying for 60k-67k. If I threw in a one time investment that week, I’d be down 25-35% on it. But since I’m buying every single day, and bitcoin “crashed”, my average price is now ~$48k and I’m only down 7%.
It’s a lot easier for me to get back to my cost basis than a one time investment.
I’m at .012BTC ($600 as of this post and there was a few $10-20 purchases along the way), but that’s $600 I didn’t realize I had.
When bitcoin gets back to its ATH, instead of breaking even, I’ll be up 20%! As bitcoin breaks it’s ATH and keeps going up, sure, my cost basis will also be going up, but so is portfolio.
Anyways, I think everyone should think about setting up a recurring buy, even it’s something as silly as $4/day like me. I know this isn’t really ground breaking information, but I’m just sharing my experience
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