Quick Take
- Bitcoin has endured a painful last 18 months, from the November 2021 high of roughly $69,000.
- Looking at the market cap, Bitcoin had fallen as much as 75% from its all-time high – its fourth biggest drawdown in history.
- However, the dollar cost average strategy (DCA) of putting $10 into Bitcoin daily since the ATH would result in a profit on the investment, based on Glassnode data analyzed by CryptoSlate.
- The percentage return on investment with this strategy is around 10%, with a nominal return of roughly $500. This chart was created earlier in the week, so the return now may be slightly less as Bitcoin has dropped 2% since the chart’s creation.
- However, a $10 DCA into Bitcoin has outperformed the S&P 500, which is down 13% from its high back in November.
- Taking the same approach with the S&P 500 would yield a flat return on investment.
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