Best time of day to buy bitcoin? Is That Even A Thing?

Someone told you that there is a particular time of day when you should purchase bitcoin, which piqued your attention; nevertheless, you are unsure as to whether or not this is a real phenomenon. Continue reading and we shall explain the reasoning behind such statements as you read on.

It is common knowledge that Bitcoin and other cryptocurrencies, in general, are subject to significant price swings. That has both positives and negatives to it. It has caused some people to make millionaires while causing others to go bankrupt and burn to death. You might be wondering, “What exactly is the trick?” It’s no longer a mystery, that much is clear. The challenge is in determining when it is optimal to purchase Bitcoin.

Let’s be honest: the majority of people do not possess all of the expertise necessary to cope with bitcoin transactions. Self-education is a common strategy among Bitcoin traders, and it can be successful in the long run as long as demand is satisfied. A number of financial experts have conducted study on the optimal time to purchase Bitcoin and are now offering their findings, which are based on a number of aspects and assessments.

They began by noting that the elements that determine price movements in bitcoin are extremely different from those that effect traditional assets. This was one of the first things they took into consideration. The price of bitcoin fluctuates wildly, both upwards and downwards. Because of this, it is recommended to only invest in Bitcoin if its value has increased by 20% over the course of the previous week.

Let’s begin by, first of all, identifying what day is best if one is planning to purchase Bitcoin. After that, we can move on to discussing the optimum time of the day to make a purchase.

The day that is optimal for purchasing Bitcoin.

It is essential to take into consideration that, in contrast to typical stock exchanges, the market for cryptocurrencies is open around the clock. As long as you have access to the internet, you are able to acquire bitcoin at any time of the day and from virtually any location.

An investigation found that Sundays and Mondays are the two greatest days of the week to make a Bitcoin purchase. This is due to the fact that the price of Bitcoin’s underlying cryptocurrency is the lowest on these two days.

The reason to explain why it is best to buy Bitcoin on Sunday evenings is because trade volumes on every cryptocurrency exchange typically decline throughout the weekend. This is the reason why Sunday evenings are the ideal time to buy Bitcoin. CME Group, a US derivatives powerhouse that also contributes considerably to bitcoin’s global volume (over $500 million daily) exchanged by institutional investors, takes a break over the weekend. Institutional investors are a key contributor to bitcoin’s global volume.

Theoretical explanations for each individual day

There are several different hypotheses that explain how to calculate the optimal time to purchase bitcoin. We are going to investigate all three options.

• The first hypothesis proposes that the demand for Bitcoin decreases during the course of the weekend, which results in the price of Bitcoin being lower on Monday and higher on Friday.

• A second idea proposes that most people tend to buy Bitcoin over the weekends and start trading during the week, which would explain why the volume of trade is highest on Mondays.

• According to a third school of thought, you should steer clear of purchasing Bitcoin at times when people who work 9 to 5 get paid. The greater the amount of money available, the greater the demand for bitcoin.

The most optimal moment of the day to purchase Bitcoin

We have narrowed it down to the best days to buy Bitcoin and even further looked into numerous hypotheses that might help you better ascertain your decision. We have also narrowed it down to the best days to buy Bitcoin. Now that we’ve covered the basics, let’s delve further and examine the optimal time of day to purchase Bitcoin.

Take into consideration the fact that the price of a bitcoin might vary rapidly within a short amount of time and that Bitcoin is highly volatile. However, this demonstrates a concentration on the short-term focus on the price of Bitcoin, which is not advised, and hence searching for the ideal moment to acquire Bitcoin is not recommended.

The greatest thing you can do is adopt the following methods, which are sure to keep the risk of losing all of your money at bay. Doing so is the best thing you can do.

Further your own education.

If you know nothing about cryptocurrency, you should not start trading in it until you learn more about it. It is not a good idea to use cryptocurrency as a platform to go after rapid profits. There are a great number of dangers associated with doing so.

Conduct some investigation via the internet. You can acquire resources through the Nakamoto Institute, and you can also discover a great deal of knowledge on YouTube. Even if it takes a lot of time, doing it in this manner is the best method to approach the problem.

Don’t sell out of fear.

I am aware of what it is you are considering. What happens if the price of Bitcoin on the market is high? Shouldn’t one try to make a profit by selling the item instead? If you intend to sell when Bitcoin reaches a specific price height, then it is a good idea to do so. Yes, it is excellent to do so. If, on the other hand, you have entered a state of panic as a result of reading or listening to content on the internet and believe that you have to sell before it all crashes, then NO – don’t do that.

Take into consideration the fact that the most effective tactic is to stick onto Bitcoin for the long term. Bitcoin is currently going through the process of gradually becoming a currency. Wouldn’t it be a waste of time and effort to try to sell and accumulate fiat money, which would ultimately prove to be worthless?

“Buy while the price is low.”

Because of the high degree of volatility associated with cryptocurrencies, it is inevitable that the price of Bitcoin on the market will drop at some point. The current moment is the optimal time to put money into Bitcoin. If you are unfamiliar with cryptocurrencies, you may find this information to be paradoxical. Be aware, though, that Bitcoin’s value can swing wildly from moment to moment. There is a possibility that current prices will fall while future prices may rise within the next hour.

Have a firm grasp on the prevailing markets and trends

It is recommended that you make certain you are aware of how to research the trends of the industry and determine the optimal time to invest in bitcoin. You should be able to base your decisions on the patterns that the market is exhibiting rather than on what each individual trader is doing.

How to monitor the current price of bitcoins

After coming to the conclusion that the current moment is not exactly the best time to purchase cryptocurrencies owing to the volatility of the market, let us investigate a concept that will prove to be even more helpful.

It is crucial for you to monitor Bitcoin prices since this will alert you when the price of Bitcoin has dropped, allowing you to buy it at a lower cost. There are a number of apps available, including as Binance, TradingView, Plus500, Coinbase, Delta App, and Blockfolio, amongst others, that allow you to monitor the price of Bitcoin.

You will be able to receive notifications whenever there is an increase or decrease in the price of Bitcoin via any program that you use if you set up alerts.

When does Bitcoin’s price tend to be the most unpredictable throughout the day?

We came to the conclusion that as a result of the volatility, it is difficult to determine when the ideal time of the day is to purchase Bitcoin.

However, being aware of the time of day when Bitcoin prices are most likely to fluctuate can prove to be really useful. According to the findings of research and analysis of the trends in the cryptocurrency market, Bitcoin experiences the most volatility around 1 am UTC. It’s possible that this is due to the fact that in North America, the evening just started at this hour. On the other hand, it is just getting started with the working day in Asia. It is most likely that both Western traders and Asian traders will be actively trading at the same time during this period of the day.

Therefore, the most advantageous time of the day to purchase bitcoin is around one o’clock in the morning UTC.

In conclusion, Wednesday is the best day of the week to invest in cryptocurrency.

Is there such a thing as the ideal time of the day to purchase virtual currencies? When it comes to cryptocurrencies, it is abundantly evident that there is no such thing as a flawless market, regardless of the numerous ideas, studies, and analyses that have been conducted. Cryptocurrency, in contrast to more conventional assets, is subject to significant price swings. You run the risk of making some money quickly today but losing it all tomorrow. That cannot be attributed to just good fortune. As a cryptocurrency investor, you should make sure that you invest only the amount of money that you can afford to lose and conduct as much research as you possibly can.