Bitcoin DCA strategy from ATH would have generated profit, beat S&P 500
Login needed, although the data comes from Glassnode - which also requires a login! But, we don't care - the headline is enough.
Dollar Cost Averaging Bitcoin, even starting from its ATH, would now be showing a profit. I've said this quite a few times before - blind stupidity can be profitable, so long as one actually buys at fixed periods. Daily is best, but weekly would still be fine. You don't even need to understand how or why it works, but so long as your chosen token is not on a permanent slide into oblivion, there will be periods of profitability when the current price is above your average purchase price.
The point is that if you're buying a fixed value at each step - not a fixed number of coins - then you're buying more coins at the lows. The error many make is they try to be smart and start waiting for a better price; this usually ends up being worse. Best as an automated process, a bit like sending a fixed amount to a pension fund or other investment.
Anyway, more info, if you need it...
and always useful to follow Glassnode
Always amusing to see this blind strategy actually working. I wonder how many actually do this.