I started investing in bitcoin at the peak at the end of 2013. Instead of a one time purchase, I setup a recurring purchase of less than $20 per week. That has worked very well and has added up to over 7btc.
I definitely recommend dollar cost averaging when investing in bitcoin.
Wow, that's awesome! Great job. Yeah, I've been wanting to do this for a while now, but instead we kind of sporadically buy in chunks based on the budget.
Dollar cost averaging by a weekly standing order sounds great. But how do you do this so it happens automatically?