Bitcoin Performance Review
Another month is passed and it's time to review the performance of Bitcoin. There's a lot to get through, so let's get started.
First of all, year to date we are still slightly down. As you can see in the chart, we have had a couple of big dips, but they have quickly recovered. As you can see from the table I created, it won't take anything for Bitcoin to recover from here and move into positive territory.
In the trailing 30 days, we can see that we have had a nice rally with some strong gains, although not as strong as in February.
If we zoom out further, we can see our 1-year performance is also now negative. This may seem bad, but if you look at it from a DCA Strategy perspective, your returns would still be positive +15,69%.
Therefore, DCA Strategy still seems the best investment strategy to use if you are still accumulating.
We can still see that Bitcoin and Ethereum are by far the most dominant cryptos and there is no sign of a cross-over at the moment.
The case for holding Bitcoin remains strong and as shown above, continuing to use a DCA strategy seems to provide the best results without trying to time the market.
Thanks for reading
Resources:
Charts and data created using Canva.com using chart data from CoinMarketCap.com unless otherwise specified.
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