Should you buy bitcoin daily or weekly?

Jayme Jenkins asked a question: Should you buy bitcoin daily or weekly?
Asked By: Jayme Jenkins
Date created: Fri, Mar 5, 2021 8:16 PM

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Should you buy Bitcoin daily or weekly? Nobody can time the market. Not even in Bitcoin markets. But what can be timed is our investments. With Bitcoin’s price rise and fall being one that cannot be adequately predicted, we should focus on what we can control. We can’t control Bitcoin’s price, but we can control when we choose to buy it.

Should you buy the cryptocurrency every day, week, month, or quarter? That’s a tricky question since Bitcoin has had so many cycles this past year, from going up and nowhere till March, crashing over 50 percent in a week, recovering between April and May, staying quiet in June and July, and finally bursting out in August and September.

So, if you want to buy bitcoin and you don’t know the best day of the week, use the TDM analysis. So, you can either buy at the beginning of the week during an uptrend or sell at the end of the week during the downturn because chances are high you will get the best price.

Whatever you decide, make sure you apply these 5 core Bitcoin investment rules: ‍ DYOR (Do Your Own Research). Buy low, sell high. Don’t ever invest more than you can afford to lose and set a limit for yourself. Try to dollar cost average, by investing periodically and consistently, irrespective of the price. This way, you avoid short term market fluctuations.

The reason for this is with the daily buys, Bitcoin was bought at a considerable discount. So, when the price fell in March, you bought 6 times the amount of Bitcoin as you could now. With the weekly, monthly, and quarterly buys, the discount purchases were averaged out.

Bitcoin is the buzz. Every day, it becomes easier to buy and sell. You can now use Paypal to buy Bitcoin with a few clicks. Last week, Square’s Cash App — run by Bitcoin evangelist Jack Dorsey —...

You set aside funds for Bitcoin purchases, decide how much you want to buy and specify the frequency -every day, every week or every month. That’s it. The exchange will execute automated order and buy the crypto for you for as long as you want, until you cancel the service.

We’ll look at four averaging periods, daily, weekly, monthly, and quarterly. To reiterate the strategy. We’ll look at buying a certain dollar-amount of Bitcoin in each of – every day, every week, every month, and every quarter. The amounts will be adjusted to present a common capital.

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