Dollar Cost Averaging: Which Is The Best Day to Buy Bitcoin?

Based on hard data, I wanted to find out what the best days are to buy Bitcoin when Dollar Cost Averaging. For this analysis, I have gathered historical Bitcoin prices from 1st January 2012 to 31st December 2023.

Dollar Cost Averaging — A Brief Introduction

If you are not a professional trader and want to accumulate Bitcoin, one of the best ways is DCA (dollar cost averaging), meaning that you invest in Bitcoin with a fixed amount of money on a regular basis — for example on a certain day every month.

Here are the advantages of using DCA:

• Less stress: Bitcoin price is volatile compared with other assets such as stocks. With Dollar Cost Averaging, you do not have to try to time the market. It’s very simple.
• Saves time: Some traders spend large amounts of time analyzing Bitcoin charts and trends to find the best buying and selling opportunities. With DCA, you don’t have to do that.
• Opens more opportunities: DCA ensures that you do not go all in at once and have money left to buy the dips when opportunities arise.
• Trains you to have discipline and good investing habits: Setting some money aside and investing regularly helps you to reduce spending and stick to a…