Cryptocurrency

Bitcoin

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 <p class="paragraph">As the majority of the cryptocurrency market has started the week on a bullish note, Bitcoin (BTC) is no exception, its recent price increases adding up to gains of over 60% since the year’s turn, and data indicates that investing $100 per week in 2023 would have been a profitable strategy.</p> 
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 <p class="paragraph">Specifically, this strategy, called dollar-cost averaging (DCA), is a popular and straightforward investment method, and it refers to spreading out investments by buying at periodic intervals and in approximately equal amounts of money, regardless of the share price.</p> 
 <p class="paragraph">As it happens, using this strategy on Bitcoin in 2023, the $3,100 investment (31 weeks by August 3) would now be <a rel="dofollow" title="worth" href="https://thebittimes.com/tag/worth.html">worth</a> $3,268, or 5.42% more than the amount invested, according to the observations made by a cryptocurrency analyst and CEO/founder of <em>Into The Cryptoverse</em> newsletter, Benjamin Cowen, and shared in an X post on September 19.</p> 
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  <img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh3.googleusercontent.com/OMt_s5MEqnf6yB26eBQrL4YGIXRajrUlXmIwSpe3S-K12OQFHPhac178K-8E0Mj52jba7B6FPqNXqHldY5zs7E_Oqc4cWF1v5kvVDkbd4NNqd7I4hXidYxnWY_7Ueb-7ZZvLgi2iSUaxEqPVNR6u-mU" alt>
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   <em>Bitcoin weekly $100 dollar-cost averaging in 2023. Source: </em><em>Benjamin Cowen</em>
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 <p class="paragraph">On top of that, Finbold carried out a more recent <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> that takes into account the current date and has arrived at similar results – 5.69% return on investment for purchasing $100 <a rel="dofollow" title="worth" href="https://thebittimes.com/tag/worth.html">worth</a> of Bitcoin every week since January 1, 2023 (i.e. spending $3,800 over the course of 38 weeks), with today’s DCA value of $4,016.30, according to the data retrieved.</p> 
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2> 
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 <p class="paragraph">At press time, the flagship decentralized finance (DeFi) asset was changing hands at $27,085, which indicates an increase of 1.42% in the last 24 hours, as well as a 5.08% gain across the previous seven days, while in the past month, the maiden crypto has grown by 3.76%, adding up to the 62% growth since the year’s turn.</p> 
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  <img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh6.googleusercontent.com/oowQqjvSk-_gAwct_GtA1LvRFK4ph3JCG_RE03tcHkGyA6sB5uYIe2sj_ANWexneQMrcOossTAfbNMQZfx-9ttq-SyEjkt35FCB-OD2vZ1xMo1ajjgxgQrnKv0Rq24liGCRX7B8kltYhhf9_tYIZWyk" alt>
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   <em>Bitcoin year-to-date (YTD) price chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">Meanwhile, Bitcoin has recently crossed its first bullish cross for the first time since July 2022 and has flashed a buy signal at its three-day chart by the TD Sequential indicator, which suggests potential trend reversals and continuation patterns in financial markets, including the crypto market.</p> 
 <p class="paragraph">At the same time, multiple experts are bullish on Bitcoin’s future for the next couple of years, with some predicting that it could surpass the price of $32,000 following the halving event in 2024, as well as breaking through the $100,000 price target in 2025, possibly even culminating at $1 million.</p> 
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/investing-100-week-into-bitcoin-in-2023-would-be-this-worth-today-tbt63200.html">https://thebittimes.com/investing-100-week-into-bitcoin-in-2023-would-be-this-worth-today-tbt63200.html</a></p>

Investing $100/week into Bitcoin in 2023 would be this worth today

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