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What Would Happen If You Bought $100 of Bitcoin Every Month For a Year?
Here’s how much you’d have after a year.
The first time I bought cryptocurrency was in November 2017. It was a craze that I didn’t fully understand. I remember sitting at lunch with 8–10 friends talking about Ethereum, Bitcoin, and Litecoin.
I had no idea how any of it worked, but I remember looking at the price charts.
The price of one Bitcoin had gone from around $1,000 at the beginning of 2017 to over $10,000 by November. Ethereum had similarly impressive gains, moving from $10 per coin in January to $400 in November. Litecoin had gone from $4 to $70 per coin.
At that time, I didn’t have a ton of extra cash, and I didn’t understand crypto at all, so I bought around $50 of Ethereum and $25 of Litecoin. Bitcoin seemed too expensive for me.
After a month I forgot I had it.
Six months ago I figured out that I had made a Coinbase account and figured out how to log back in. I had around $120 from the $75 I invested 3 1/2 years ago.
I could’ve had a lot more if I continued investing in 2018, 2019, and 2020. But I don’t want to get stuck on coulda, woulda, shoulda’s.
I’d rather focus on the future and making smart investments.
Since crypto can still be volatile compared to stocks and bonds, the best thing you can do is spread out your investments and leave them alone. I have a friend that makes a lot of money day trading Bitcoin, but they also spend all day studying and making educated trades.
I would not recommend investing in something you don’t understand.
Spend 15-20 hours learning about crypto, the Blockchain, and Bitcoin before you open your wallet.
I decided to see how much you’d have if you bought $100 worth of Bitcoin every month for a year. $50 on the 1st and $50 on the 15th.
Since the price of Bitcoin moves up and down every day, this won’t be an exact number, but an accurate estimate. I’m getting these prices from Coinbase, and…
