Cryptocurrency is a highly volatile asset class that experiences numerous price fluctuations. Because of this, many believe they should attempt to time their investments — purchasing during specific windows to obtain the best prices — to maximize their returns. Since bitcoin and other cryptocurrencies are traded 24 hours worldwide, the optimal time to invest is never certain.
If you ask yourself what is the best day to buy cryptocurrency, you are in the right place. Here in internet4me, we made an article that will give you a sense of good timing for bitcoin investing, so read on!
BEST TIME TO BUY BITCOIN ACCORDING TO ECONOMISTS
According to some experts, you should take into account more than the current value of cryptocurrencies. Bitcoin’s value in relation to the USD and other currencies fluctuates significantly more than the relative exchange rate relationships between many fiat currencies, so it cannot be compared to the exchange between two traditional currencies.
When demand is high, so are prices. Consider times when there is less demand.
Business hours are typically the worst time to buy Bitcoin because more people are trading during these hours.
Also, business hours outside the United States should be considered.
In the near future, media coverage of cryptocurrencies can significantly impact the price of Bitcoin.
You may never be able to anticipate the optimal time to purchase Bitcoin. However, you can make an educated guess if you know what to look for on the market and elsewhere.
WHAT IS THE BEST DAY OF THE WEEK TO BUY BITCOIN
Due to the popularity of Bitcoin among business professionals, the market is most active during the workweek. Due to the fact that many business people trade Bitcoin over the weekend, market activity is reduced. Therefore, consider purchasing Bitcoin on a Sunday if you wish to save money on your next transaction. You can also purchase on Monday before the market becomes crowded. After the week concludes, demand decreases. The weekly cycle then continues.
BEST TIME OF THE DAY TO PURCHASE BITCOIN
Once you have a sense of Bitcoin’s value, you should consider when to purchase it. Although the value is constantly changing, it has historically followed specific patterns.
In general, purchasing Bitcoin in the afternoon is preferable, as prices tend to decrease. On average, the optimal time to buy Bitcoin is between 3 and 4 p.m. If you are a night owl, you can also find deals between 11 p.m. and midnight.
During these times, Bitcoin’s value is at its lowest, which means you can pay less cash. So regardless of the size of your investment, you can save money by purchasing during these times.
BEST DAY TO BUY CRYPTOCURRENCY CONCLUSION
It is difficult to determine the optimal time to purchase bitcoin. Due to Bitcoin’s experimental nature, volatility is anticipated to persist. The same holds true for every other digital currency.
No one can predict what will occur in the following week, month, or year. However, some of the advice in this article may be useful when determining the optimal time to enter the market, so consider the information we provided, and we wish you the best rate of return!