When to DCA Bitcoin? ⏱️
The zero-fee recurring order is one of our most popular features. It naturally leads to the question: Is there a difference in profits over time depending on when and how often your recurring order executes?
In our new research, we found a few remarkable patterns over the past twelve months:
- A one-hour window in a day with on average over 3 times as many price bottoms than peaks.
- Mondays have the highest odds of having the weekly low price relative to the weekly high price falling on this day.
- There is an interesting monthly pattern as well.
Over the past five years, it was possible to earn around 1.2% more by carefully choosing the timing to set up a recurring order. Of course, past performance is not indicative of future results.
You can find our research on our blog.
Bitcoin ETF Anticipation 👀
Many market participants are paying close attention to whether the SEC will eventually approve Bitcoin spot exchange-traded funds (ETFs) in the U.S.
These investment vehicles would enable more investors and institutions to get exposure to bitcoin price moves from their regular brokerage accounts.
So far over 10 different applicants keep getting denied or delayed, what gives?
Nobody knows for sure, as the SEC has been vague to give precise explanations. However, time is running out for them, as a federal appeals court ruled that the SEC had been wrong to deny a previous application.
By January 10, 2024, the first application in line will expire. Regulators must either reject or approve it by then. This time with a clear explanation that won’t land them in court again.
River Releases 📋
November has been a busy month for us with some big releases:
- After popular request, we introduced hourly recurring orders alongside our existing daily, weekly, and monthly options. Of course all zero-fee!
- Our new Android app is now available to download. Many more features will be added in the coming weeks.
- We’ve been upgrading our infrastructure juuuust in case the market keeps picking up.
The month isn’t done yet, we’ve got more coming…
Enjoy your Thanksgiving! 🦃
The River Team