Ciaran Ryan
3 minute read
24 Feb 2021
7:46 am

Want to buy Bitcoin? Rand cost averaging a favoured method as cryptos grow

Ciaran Ryan

Gains are so dizzying many feel they’ve missed boat – but there had been surges like these before.

Many coins of various cryptocurrencies.

This may be a frightening time for anyone considering getting involved in cryptos for the first time. Bitcoin appears headed for $60,000 (about R887,000) after cracking $20,000 two months ago. It’s up 185% in just eight weeks. Ethereum broke $600 just two months ago and is now headed for $2,000 – a gain of 230% in two months. Cardano is up nearly 500% in the last two months. These gains are so dizzying that many fear they have missed the boat, though these same fears were expressed in prior years when bitcoin first broke R10,000, then R100,000, and then R300,000....