In cryptocurrency investment, the aspiration to possess an entire unit of Bitcoin (BTC) stands as a coveted achievement driven by the allure of potential returns. With the divisibility of Bitcoin into smaller units, it becomes feasible to embark on a journey of incremental investments, all with the ultimate goal of attaining ownership of a single unit of the pioneer cryptocurrency within a designated time frame.
Therefore, the question that beckons is, with the current price of Bitcoin, how much would you need to own one unit of BTC today? In this line, data acquired by Finbold from the Dollar Cost Averaging Bitcoin platform indicates that if you had started investing $70 daily in Bitcoin precisely one year ago, on September 24, 2022, you would now own one full Bitcoin.
Over the course of a year, investing this amount daily sums up to $27,495, considering that the maiden crypto is currently valued at $26,578.
Bitcoin’s performance over the past year
It is worth noting that, over the past year, Bitcoin’s price has experienced its usual fluctuations, but the strategy of consistent daily investments would ensure one accumulated more Bitcoin when prices were lower and less when prices were higher, a practice commonly referred to as “dollar-cost averaging.” Meanwhile, it is key to highlight that past Bitcoin performances do not reflect future trends.
Notably, Bitcoin has endured a bear market for the past two years as it strives to rediscover its 2021 peak values. The recent price dip below the $30,000 mark provides small-scale investors with a window of opportunity to fulfill their aspiration of owning at least 1 BTC.
Despite Bitcoin’s price volatility, this approach underscores how consistent investments can hedge against risk and yield significant long-term rewards. Currently, market attention is fixated on Bitcoin’s forthcoming trajectory, with some analysts speculating that the pioneering cryptocurrency has the potential to surge to heights as remarkable as $130,000 by 2025.
Bitcoin price analysis
By press time, Bitcoin was valued at $26,586, showing daily gains of approximately 0.1%. Looking at the weekly chart, Bitcoin has seen an increase of about 0.13%, emphasizing the asset’s recent consolidation.
Bitcoin’s one-day technical analysis indicates a prevailing bearish sentiment. A summary of the indicators retrieved from TradingView aligns with a ‘sell’ rating at 11, which corresponds with a similar sentiment seen in moving averages, also rated at 9. Oscillators, on the other hand, are categorized as ‘neutral’ with a rating of 8.
Considering Bitcoin’s relative affordability, the current valuations present an attractive opportunity for accumulation in anticipation of a potential price rally.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.