As the majority of the cryptocurrency market has started the week on a bullish note, Bitcoin (BTC) is no exception, its recent price increases adding up to gains of over 60% since the year’s turn, and data indicates that investing $100 per week in 2023 would have been a profitable strategy.
Specifically, this strategy, called dollar-cost averaging (DCA), is a popular and straightforward investment method, and it refers to spreading out investments by buying at periodic intervals and in approximately equal amounts of money, regardless of the share price.
As it happens, using this strategy on Bitcoin in 2023, the $3,100 investment (31 weeks by August 3) would now be worth $3,268, or 5.42% more than the amount invested, according to the observations made by a cryptocurrency analyst and CEO/founder of Into The Cryptoverse newsletter, Benjamin Cowen, and shared in an X post on September 19.
Bitcoin weekly $100 dollar-cost averaging in 2023. Source: Benjamin Cowen
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