A Methodological Study of Continuous Price-Weighted Dollar-Cost Averaging for Cyclical Assets
The Case of Bitcoin, and the Epistemology of Its Parameters Working paper · Methodological research June 2026 Abstract This paper examines a class of capital-deployment methods for building positions in assets that exhibit endogenous cyclicality, using Bitcoin as its case. Bitcoin’s protocol embeds a deterministic supply-decay mechanism — the block subsidy halves every 210,000 blocks, approximately four years — producing a price history with a non-sentiment-driven periodic structure. This institutional fact is the foundation on which the method rests. ...