When is the best day to buy crypto?
To all the traders, investors, and enthusiasts out there – Are you looking for the best day to buy crypto? First things first: timing a crypto purchase can be a tough task. However, some market trends appear to be pretty prevalent in crypto markets.
Interestingly, Bitcoin accounts for about $250 billion of the $1.4 trillion crypto market and is often regarded as a benchmark for the rest of the market.
It’s no surprise that individuals are constantly looking for hints on when to buy Bitcoin. You do not have to be an elite club member to purchase it. However, it would help to consider the best time to buy Bitcoin for the best value. So, when is the best day to buy crypto? You may consider doing so during off-peak hours, by timing the market, or by DCA.
Timing the market hours & trends
You can boost your profit possibilities by timing the cryptocurrency market. It means paying attention to trends and trying to buy when prices are low and sell when they’re high.
Buy low and sell high technique
“Buy low and sell high” is a typically accepted investment idea, and it applies to crypto just as much as it does to traditional stock markets or any other asset. To make money from investing in crypto, you need to buy coins at a low price and sell them when they are at a high price.
Of course, this is easier said than done. It can be tricky to predict when a coin’s price will rise or fall, and timing the market ideally is almost tricky. But if you can make even a small profit from each trade, it can add up over time. Thus, certain days of the week tend to see lower prices and higher trading volumes, which can be the best day to buy crypto.
Best time of day to buy cryptocurrency
The crypto market is open 24/7 but is there a best time of day to buy cryptocurrency? As per some experts, the answer is yes – and the best time to buy bitcoin is during off-peak hours.
Comparing the trading activity of Bitcoin, Ether, Solana, and Cardano– cryptos with among the most incredible cap rates reveals that they tend to rise and fall together, which is helpful in comparing buy opportunities.
Off-peak hours for the crypto trading
Off-peak hours for crypto trading are during the night and early morning, when there’s less activity in the market. It can benefit traders because there’s less chance of prices being artificially inflated by buy orders.
Of course, not everyone is active during off-peak hours, so you may have to be patient when making your trades. But if you want the best price for your crypto, consider trading during these hours.
Dollar-Cost Averaging (DCA)
DCA is an investing strategy where you spread your purchases over time rather than buying all at once. It has the benefit of evening out the price you pay for your investment and helping to mitigate the effects of volatility. It can also save you from finding the best day to buy crypto.
However, some people believe buying crypto on the weekend is the best time to implement the dollar cost averaging approach, as prices are generally more stable.
Another advantage of this investment strategy is that it takes the emotion out of crypto trading. You’re not trying to time the market; you’re just buying crypto regularly. Over time, this can help you build up a position in the market without having to worry about short-term price movements.
The Best Day of the Week to Buy Crypto
When it comes to the best day of the week to buy crypto, there is no definitive answer. However, some experts believe that Monday is the best day to buy, as it’s usually when prices are at their lowest.
This idea comes from the fact that most people sell their crypto at the end of the weekend after they’ve had time to look at their portfolios. This high cryptocurrency trading volume can sometimes result in prices dropping on Monday.
Of course, this is just a theory, and there’s no guarantee that prices will always be lower on Monday. However, it’s worth considering if you’re looking for the best day to buy crypto.
Based on the data, the second-best day of the week to buy is Thursday. Yes, Thursday. Six of the eight weeks observed a dip on that day. If this trend continues, Thursday morning is the best time to buy.
The Best Month to Buy Crypto
As the best day to buy crypto, there are certain months that have historically been beneficial for buying crypto. For example, the prices of Bitcoin and other cryptos often go up after the Christmas and New Year’s holidays. It is probably due to media attention and investor interest.
Similarly, June and July have been favourable for purchasing bitcoin, as the market has historically seen strong growth during these months. The rising use of cryptos by businesses and individuals at this time is one possible cause, among many other things.
Of course, there’s no guarantee that any specific month will see positive growth for crypto, but these months have been historically significant. The months include January and the summer months of June and July. However, keep in mind that the market is quite unpredictable, and prices can change quickly. It’s essential to consult a financial expert for investment advice before making any decisions.
Other Best Times to Buy Crypto
Traders believe that certain times of day are better for buying than others.
For example, some people believe that Asian markets tend to be more stable, so buying during Asian hours may be advantageous.
Some say that buying at night is a good idea because that’s when the Asian markets are most active, and prices tend to be lower then.
Some also believe that buying at the beginning of the week is a good trading strategy, as this is when most institutional investors make their trades.
Others acknowledge that the best time to buy bitcoin is early morning, when there’s less activity in the market and prices are more likely to dip.
Thus with the best day to buy crypto in mind, also consider the tips above.
Is Bitcoin a good investment opportunity for you?
Bitcoin has been one of the hottest investments in recent years. Its price has increased from $7,813 (November 2017) to more than $29,374 in December 2020. And it doesn’t look like the Bitcoin craze is slowing down anytime soon.
If you’re considering investing in Bitcoin, you should know a few things.
- First, you need to understand what Bitcoin is and how it works.
- Second, you need to know the risks involved in investing in Bitcoin.
- And third, you need to know the best time to buy Bitcoin.
The best time to buy Bitcoin is when there is a low demand for Bitcoin. It means when there are more sellers than buyers, the bitcoin prices are lower. So try to buy when the bitcoin price is low during a bear market. Knowing when to sell bitcoin is equally important, so also read when to sell bitcoin and other cryptos.
3 Theories To Get Bitcoin Timing Right
A few theories can help you make an informed guess for the best day to buy crypto.
The “Buy the Dip” Theory
Buy the Dip theory is based on the idea that the best time to buy is when prices are low.
So, if you notice a dip in the Bitcoin price, it might be a good time to buy.
The “HODL” Theory
HODL theory is based on the idea that you should hold onto your Bitcoin and not sell it. It is because the price of Bitcoin could go up in the future, and you could make a profit by selling it then.
So, these are a few theories that can help you make an educated guess about the best time to buy Bitcoin. Of course, there is no guarantee that any of these theories will be correct. Ultimately, it is up to you to decide when to buy BTC.
The “FOMO” Theory
FOMO is based on the idea that people don’t want to miss out on a good investment opportunity.
FOMO means “fear of missing out,” which refers to the sensation of haste in purchasing Bitcoin when everyone else is doing it. In general, you should try to stay away from it.
Tips for keeping your investment safe
One important factor is when to make your investment. Just like with any other type of investment, timing is everything. So, when is the best day to buy crypto?
Here are a few hints to help you figure out the best day to buy crypto:
Do your research
Before making any type of investment, it’s essential to do your research. It is especially true when it comes to cryptocurrency. Ensure that you understand how the crypto market works and what factors can affect prices.
Set a budget
It’s also crucial to set a budget before you start investing. Decide how much you’re willing to invest and stick to your budget.
Pay attention to the news
Cryptocurrency prices can be affected by news events. So, it’s important to pay attention to the latest news when you’re trying to time your investment.
Have a long-term perspective
Investing in cryptocurrency is a long-term proposition. It’s important to have a long-term perspective when you’re making your investment.
Use a trusted crypto exchange
When you’re ready to buy crypto, be sure to use a trusted exchange. There are multiple crypto exchanges out there, so do your own research to find one that’s right for you, or have a look at our suggested crypto exchanges below.
By following these tips, you can help ensure that you’re making your investment at the best time.
How to buy crypto and a list of recommended exchanges
Ways to crypto assets
Directly through an exchange: This is the most common way to buy crypto. You will need to create an account on the exchange and deposit funds into it. Once you have done that, you can buy crypto directly on the exchange.
Through a broker: You can also buy crypto through a broker. Brokers are usually more expensive than exchanges, but they can be a good option if you want to buy a huge amount of crypto.
Peer-to-peer marketplace: Peer-to-peer marketplaces are websites where you can buy crypto from others. These marketplaces are usually cheaper than exchanges, but they can be riskier because you deal with individuals.
Coinbase: Coinbase is a major crypto exchange where you can buy and sell Bitcoin, Ethereum, Litecoin, and other cryptos. It is one of the easiest exchanges to understand, making it a good choice for individuals new to cryptocurrencies.
Binance: Binance offers a variety of digital assets, including BTC, ETH, and LTC. You can use these digital assets to trade, invest, or hold them as long-term investments.
Kraken: Kraken is among one the popular crypto exchange. It is based in the US and offers a variety of digital assets, including BTC, ETH, and LTC.
Bitfinex: The platform is one of the first to offer margin trading and lending of digital currencies. The exchange offers crypto-to-fiat and crypto-to-crypto pairs.
Gemini: This US-based exchange is one of the most famous crypto exchanges and allows users to buy, sell, and store cryptos. Gemini is known for its strict security measures, which has made it a favourite among investors and traders.
Investing in cryptocurrency is a risky idea, but it can also be a profitable one. If you’re considering investing in crypto, the best day to buy crypto might be when prices are low or when there’s a lot of positive news surrounding the asset.
Novice traders can use a few theories to help them make an educated guess about when the best time to buy might be. However, there’s no guarantee that any particular theory will be correct. Ultimately, it’s up to you to decide when to make your investment.