What if you started Bitcoin DCA around the 2020 halving?
This uses real data to show what would have happened if you had invested KRW 300,000 a month in Bitcoin starting around the third halving (May 2020), when the mining reward was cut in half. We honestly examine the extreme volatility and deep drawdowns.
⚠️ Know the risk first
A halving does not guarantee gains. There was a 70%-plus crash afterward, and the value swung sharply even during DCA. The result only holds if you kept investing without stopping.
What happened that day
In May 2020, Bitcoin hit its third halving, cutting the mining reward in half. It then surged to an all-time high in 2021 before crashing over 70% from its peak in the 2022 crypto winter.
Why this date
We use the clearly dated, widely known halving (May 2020) as a DCA-start milestone, computing 'what if you had invested steadily from around then.'
Investment conditions
Asset · Bitcoin (BTC) · KRW 300,000 monthly DCA
Method · Recurring monthly investment
Period · 2020-05-11 ~ 2026-07-01
Amount · $222 / month
As of · 2026-07-01
Key metrics
These results do not reflect taxes. Based on historical data.
Risk & recovery
As important as returns. This service does not hide maximum drawdown or loss periods.
Maximum drawdown (MDD)
-67.0%
Largest drop from peak
Longest loss period
5months
Months in loss: 7
Recovery period
16months
Growth over time
Invested principal (dashed) and portfolio value (solid). Values below match the calculation.
Total invested $16,667 → Final value $30,736 (+84.4%), Maximum drawdown (MDD) -67.0%
Why this period and asset
In May 2020, Bitcoin hit its third 'halving,' where the mining reward is cut in half roughly every four years. It was a milestone noted for slowing the pace of new supply. Bitcoin then surged to an all-time high in 2021, only to crash over 70% from its peak in the 2022 crypto winter — extreme volatility. This case shows how DCA passed through such a rollercoaster.
Interpreting the result
With monthly DCA, you buy expensive in surges and cheap in crashes, spread out. Read the final value versus total contributed and the maximum drawdown below together. But Bitcoin is far more volatile than an index or gold, and even with DCA you pass through several stretches where the value swings sharply versus contributions. The final number rests on the strong premise of 'if you kept investing without stopping even through those extreme crashes.'
Caveats & limits
Bitcoin is more volatile than any other asset on this page. A halving does not guarantee gains, and indeed there was a 70%-plus crash even after the halving. It's a high-risk asset where you could lose a large part of your principal, and DCA does not remove that risk. Always review the maximum drawdown and loss periods. Figures use adjusted close and exclude exchange rates, fees, and taxes, and past results do not guarantee the future.
Event fact sources
- Bitcoin protocol — third halving at block 630,000 (2020-05-11)
- CoinDesk, Bitcoin 2020 halving coverage (2020-05)
Requested date vs actual trading date
If the event date is a holiday, contributions begin on the next trading day (crypto mostly trades daily). The 'effective trading date' below is the date actually used.
Data sources & limits
- Price data source: Yahoo Finance / FinanceDataReader
- Collected on: 2026-07-28
- Effective trading date: 2026-07-01
- Price basis: Adjusted close (reflects dividends and stock splits)
- Trading fees and taxes are not reflected — figures are pre-tax.
- Based on historical data; does not guarantee future returns.
Frequently asked questions
Does the price rise after a halving?
A halving is just a scheduled event cutting the mining reward in half; it does not guarantee a price rise. Past halvings were followed by rallies but also by 70%-plus crashes. The future is likewise unknown.
Is Bitcoin safe with DCA?
No. DCA reduces timing pressure but does not remove Bitcoin's extreme volatility and deep drawdowns. Even during DCA you pass through several stretches where the value swings sharply.
Why use the halving as the start point?
The halving (May 2020) is a clearly dated, widely known milestone, good for computing 'what if you invested from around then.' Exact lows and highs are only known in hindsight and can't justify timing.
Are FX and taxes reflected?
No. Exchange rates, trading fees, and taxes are not reflected — figures are pre-tax. This page only shows historical data and recommends no asset.
Related scenarios
📋 Results are based on historical data; past returns do not guarantee future returns.
📋 This service is provided for educational purposes to help you understand investing, not as investment advice.