 | Like a lot of us, I do my investing by DACing on a weekly basis. I somehow always get the impression, that I'm picking the wrong day for my DCA. So I figured let's have a look at the historical data. I used the Coingecko API to analyze the price of BTC and ETH since 01.01.2020. I looked at the price on Monday and calculated the difference to that price for every weekday. You can see the Boxplot below. BTC price relative to Monday's price ETH price relative to Monday's price What it shows is what most of you would expect. It doesn't really matter when you do your daily DCA. An analysis of variance ()ANOVA) confirmed the results, as it showed no statistically significant difference between the weekdays (p=0.86 for BTC and p=0.74 for ETH). Next, I might look at the hourly data, but the Coingecko API only allows for ~30 API calls per minute. [link] [comments] |
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