The largest part of the cryptocurrency sector has begun to consolidate the gains with which it had opened the week, including Cardano (ADA), and data suggests using the dollar-cost averaging (DCA) strategy by investing $100 per week in 2023 would not have been profitable for this digital asset.
As it happens, this method refers to spreading out one’s investments by purchasing assets in specific intervals and in roughly equal amounts of money, regardless of the asset’s price at the time. It is popular because it removes some of the psychological barriers of other investing strategies.
DCA-ing ADA
That said, DCA is not always ideal, as it sometimes fails to protect the investor from declining market prices or prevent them from buying during prolonged periods of bull markets when the asset is more expensive as opposed to shorter bearish periods, which can be avoided by timing the market.
Its shortcomings are also evident in the case of Cardano, as purchasing $100 worth of ADA each wee
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