By The Numbers: What $10 In Bitcoin Each Day Would Net Investors
A lot of new investors believe that they have missed the opportunity on bitcoin. This is simply not true. Less than 10% of the world currently know about bitcoin. That leaves over 6 billion people in the world who do not know about bitcoin. So in actuality, the investors who are getting in now who think they missed the boat are in fact, early adopters.
That aside, dollar-cost averaging (DCA) has become an increasingly popular way for people to invest in the market. Dollar-cost averaging is simply the art of spreading the investment over a period of time instead of buying everything in one fell swoop. Simply put, say an investor has $1,000 to invest into BTC, instead of buying BTC worth $1,000 at once, they could choose to spread out the buying over a period of time.
So said investor could decide that they want to buy the BTC in the span of 10 days. Buying $100 worth of BTC every day for 10 days. Or maybe buying $10 worth of BTC over 100 days. The idea behind it remains the same; spreading the investment out so the impact of volatility is reduced on said investment.
How This Would Work Out In Bitcoin
Bitcoin is at least a decade old at this point, so a lot has happened in the market. Given its tremendous growth, investors wish they had invested a large sum into the asset when it was still cheap. But what if you had put $10 every day into bitcoin for the last five years? How much would you have now?
Well, if an investor had investor $10 a day for the past five years in BTC, the total amount spent would have come out a little over $18,300. But the amount in BTC would have been over $334,000. Leading to over 1,800% gains from investment. So a $300 a month investment would have come out to over $300,000 in returns after the initial investment is subtracted.
Going even farther back than five years would lead to even more gains. And going back 10 years would have seen investments grow over 100,000% in just the last decade alone.
Bitcoin Price Till Date
Bitcoins were literally worth nothing when they first came out; $0. They were being given away for free. One could mine with an old laptop and have hundreds of bitcoins in no time. But as people began to see the usefulness of the technology, the price of the asset began to soar.
This lead to BTC gaining value as time went on. More people began to use the asset. But it still was not well-known until the Silk Road bust. When federal agents busted the website in which BTC was the main currency for trading, everyone wanted to know what this currency was that could not be traced.
The price mostly stayed flat following this until 2017, which is when one of the most notable bull markets took place. The price of BTC went surging from below $4,000 to $19,000 between April and December 2017, setting a new all-time high.
Back then, it seemed as if BTC had peaked and would crash back to zero. But four years later, BTC is still going strong, with $30,000 being viewed as the bottom for the cryptocurrency. This just goes to show how much more bitcoin can and will grow in the coming years.Source