What Is the Best Time of Day to Buy Cryptocurrency? Best Time to Buy Bitcoin
Cryptocurrencies are notorious for their high volatility. Just like the prices of particular stocks in the stock market fluctuate enormously, cryptocurrencies go through the same kind of shift in the crypto market.
But the difference is, cryptocurrencies are priced at a much higher value than the conventional financial instruments that you can find out there. Even a little bit of fluctuation in price can mean massive profits or losses for the investors.
This is where knowing the best time of day to buy Cryptocurrency can be valuable for investors.
As a crypto trader, knowing the best time to buy or sell can be crucial for you. If you get the timing right, you can multiply your profits by manifolds.
In this article, we are going to share with you the best time to buy Cryptocurrencies, especially Bitcoin.
Keep reading till the end to learn everything about the best time of day to buy Cryptocurrency to take your crypto trading game to the next level.
Pros of Knowing the Best Time of the Day to Buy Cryptocurrency
It is hard to figure out the best time of the day to buy Bitcoin. So, why would you want to go through the hassle?
Well, knowing when to trade can offer you a wide range of benefits. Instead of just blindly going into the market, trading with prior knowledge about the best time to trade can open up many opportunities for profit for you.
Trading at the Best Price
The best time of the day to buy Cryptocurrency tells you the best price of it. It is one of the things that you know with this metric.
Since Cryptocurrencies are highly volatile, you want to make sure that you buy or sell them when the prices at their best. This is what the best time of the day to trade Cryptocurrencies tells you. Once the price is as per your expectations, you can get into the trading.
When the Cryptocurrency market for a particular Cryptocurrency is at its best, it would be easier to trade it. Trading Cryptocurrencies that are in demand would be easy.
But if you have a Cryptocurrency that is not in demand yet, you need to figure out when the demand will increase. If it is on a day of the week or in a Specific month, you need to figure it because trading when the time is right would be much easier.
Knowing the right time to trade a Cryptocurrency will help you gain profits and minimize loss ratios if the prices suddenly fall. Your ultimate goal with Crypto Trading is to gain profits, right? If you know when to trade a Cryptocurrency, you can expect a higher return on your investment.
Not knowing when to trade a Cryptocurrency can hurt you a lot. If you buy or sell at the wrong time, you won’t get the best value for your investment and you can even end up at a loss.
When the prices of a Cryptocurrency go down from the rates you bought the Cryptocurrency, you’d have to trade the Cryptocurrency at a loss.
What Time Does Cryptocurrency Market Open?
Cryptocurrency markets are open 24/7. Unlike stock markets that open on Monday at 9 am and close on Friday at 4 pm, the Cryptocurrency markets stay open the whole week.
This is because the prices of Cryptocurrencies rely on global news to a huge extent. There is no saying when a sudden market shift might happen that changes the prices for a Cryptocurrency.
What is the Best Day to Buy Cryptocurrency?
The only way to find the best day to buy a Cryptocurrency is by doing the analysis of the historical data about that Cryptocurrency. You need to analyze the market and how it’s been behaving for a specific period of time.
Once you have enough data, you can create a pattern out of it.
If you don’t want to process data in a manual way, there are many Cryptocurrency trading tools that show you the data about popular Cryptocurrencies. You can use their data to assess the performance as well as the price patterns of a Cryptocurrency for the past few months in the crypto market.
Best Time to Buy Cryptocurrency
Cryptocurrency trading hours are not fixed. You can trade whenever you want to.
Still, you need to know the Best time to trade crypto so that you can make the most out of your trade.
It is quite hard to find just the right time for trading Cryptocurrency because there are a lot of factors that affect the value of a Cryptocurrency.
The best way to stay on top of the latest Cryptocurrency prices is to set up alerts for Cryptocurrencies. There are many crypto management solutions out there that let you settle the alerts for specific rates for a Cryptocurrency.
When the price hits a specific rate, you know that it is the best time to buy a Cryptocurrency. You can use the data from these tools to guide your Cryptocurrency trading decisions.
When is the Best Time to Buy Bitcoin?
There are no specific bitcoin market hours. You can trade whenever you want to.
Still, you can find the best bitcoin trading times by analyzing the bitcoin’s performance in Cryptocurrency over the past few months. This will give you an idea about where the price has been and where it is headed for the future.
Based on the information that you get from this analysis; you can figure out the best time to buy bitcoin.
It is recommended that for bitcoin, you buy low and sell high. If you are not interested in trading, you can just keep it as an asset. Buying low and selling high is the only reliable way of making money with Cryptocurrency trading.
What Time Does the Bitcoin Market Close?
It is hard to determine the best time to buy bitcoins because the Cryptocurrency market stays open 24 hours a day, 365 days a year. There is no closing time for the bitcoin market. You can trade whenever you want to.
Still, you can set up alerts to ensure that you trade at the right time. If you don’t set crypto alerts, you’d have to blindly go into the market. This approach is quite risky because of the extremely volatile nature of Cryptocurrencies.
Bitcoin in particular is considered to be the most volatile Cryptocurrency. So, you need to make sure that you time the trade just right.
Factors Affecting the Best Time of Day to Buy Bitcoin or Other Cryptocurrencies
The Cryptocurrency market especially Bitcoin undergoes massive fluctuations from time to time. This is the biggest challenge in thy way of finding out the factors affecting the best time of the day to buy Cryptocurrencies like Bitcoin.
So, what causes these fluctuations?
There are various factors that might cause Cryptocurrency prices to see a massive change in a short amount of time.
Supply & Demand
This is the most common and understandable factor that affects the time to buy a bitcoin. When the demand for a Cryptocurrency is high, its prices would be high. When the demand is low, the prices would be at their lowest.
Cryptocurrencies are expensive as people are willing to pay for them.
Market news and trends are also important factors that can skew the prices for a Cryptocurrency. For example, when Cryptocurrency is being discussed at the government level then the prices are subjected to high volatility.
For example, Dogecoin, a meme cryptocurrency saw a massive surge in prices when Elon Must tweeted about it. News like these tends to have a massive impact on the best day to buy Cryptocurrencies.
The best time to trade Cryptocurrencies also depends on international trading. Cryptocurrencies are being traded all over the globe.
Different areas have different time zones, and one timeframe might not work for all the people in the world. You need to only invest in Cryptocurrencies when the prices are at their best in the international market.
Find the timeframe where the trades are high in any given market and use that as your base time for trading Cryptocurrencies. The rest of your trading decisions would depend on the price fluctuations.
Cryptocurrencies are extremely volatile. There is no saying when certain market news or trend might shift the price of a Cryptocurrency. So, it is hard to figure out the best time of the day to get into buying or selling a Cryptocurrency.
Still, based on the previous patterns, you can come up with a timeframe where you have the best chance of making a profit with Crypto trading. But there is no way of testing the reliability of that timeframe.
So, we’d recommend accumulating a Cryptocurrency and holding it for the long term. Once the market appears to be stable, you can trade it for profit.