Best day of the week to DCA

I've always heard the best day of the week to DCA is Sunday, like many of you I followed this advice blindly until I did my own research(also a heavily touted piece of advice). What I found was not only was Sunday not the best day it was one of the worst days. I do not want to say this is 100% accurate but I think it's pretty close. What I did was compare the high and low price of each day and average it out, for each day of the week. I went back 10, 30, 60, 90, 120, 180, 365 and 730 days to find when the best day would net you the biggest returns. Here is what I found...​Last 10 Days​Last 10 daysThis shows that Thursday/Friday were the best times to buy while Monday was the worst.​Last 30 Days​Last 30 daysOver the month we see that Tuesday/Wed/Thurs were pretty good days to average down. Saturday was the worst time to dca over the last 30 days with a difference of 2706 dollars per coin.​Last 60 Days​Last 60 daysThe graph may look different but it shows almost the same data, Tues-Thurs are pretty low while Sat-Mon are the peaks. Tuesday is pretty consistently the lowest point to DCA in. If you were DCAing on Tuesday your average price per coin is rough $1,100 bucks cheaper than if you DCA on Sundays.​Last 90, 120, 180, 365 Days​Last 90 days​​Last 120 days​Last 180 Days​Last 365 days​As the charts show, Sunday has been one of the worst days to actual DCA. If you DCAed on Sunday you were normally DCAing 1,000-2,000 higher than if you were to DCA on Tuesday. Maybe this is because more and more people started buying on Sunday in the last few months because of people here saying it's the best time, maybe people knew it wasn't a good time but they pushed that information out anyways. If you look at the last 120 and 180 days, DCAing wasn't that bad and was actually lower than most days but now it seems to be a bad day to buy. Maybe it will change in a month or two. Monday though is by far one of the worst days to buy. Anyways hopes this was informative.​Last 2 yearsThe best DCA strategy though isn't which day you buy but for how long you buy. You can see if you were buying every week for the last 2 years, your average price per coin would be 21k.​TLDR: Buy on Tuesday, Wednesday, Thursday. Sell on Saturday or Monday.Sources:coinmarketcap - double checking coin pricesalphavantage - api calls

Submitted August 31, 2021 at 02:59AM