Dollar-cost averaging (DCA) is an investment technique of buying a fixed dollar amount of a particular investment on a regular schedule, regardless of the share price. The investor purchases more shares when prices are low and fewer shares when prices are high.1
@peter talks about this on YouTube here and here. That made me wonder what the best day, statistically to set an automatic schedule to buy Bitcoins on a programmed, scheduled basis. Taking a look at closing price YTD for 2017, it’s Friday! That’s the light blue bars in the graph below.
There you have it. Fridays on average are down and when they are up, they’re relatively shorter gains than the rest of the week. The next best day appears to be Wednesday.
I don’t know about you, but I will be setting up scheduled DCA investments into BTC every Friday. Keep in mind, this appears to be true of Bitcoin, but may not hold for other coins, or even for Bitcoin in a year’s time, so do your due diligence before implementing your own schedules, and review it periodically.