In 2018, Redditor Joe Greene set off to buy $100 worth of the top 10 cryptocurrencies yearly. 5 years into the experiment, here is what he learned. (Via CointelegraphZN)
— purchasing an asset on a regular basis without any regard for its market price. This smooths out the volatility in the purchase price and brings it closer to the average price over the period in which it was bought.
In fact, when Greene placed $1,000 in each of the top 10 cryptocurrencies in January 2018, his portfolio slid to be worth less than $150 just 12 months later. Greene elaborates that his method would have worked out better if the index was able to track the entire market, and not just the top crypto. “Over the same period, an all-market crypto index would have yielded 224% growth,” he stated.
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