Since the crypto market is highly volatile, it’s difficult to determine the best time to buy crypto. On that note, many traders follow the Crypto Fear and Greed Index, which is not always the best strategy. Is there a best time of day to buy cryptocurrency? No, however, certain periods of the year are more favorable than others.
With that in mind, we created a guide in which we’ll talk about the most favorable hours, days, and months for selling cryptocurrencies, based on the current trading patterns.
What Is the Best Time to Buy Crypto?
The best time to buy digital coins and tokens is when their price is lowest. You should look at how popular cryptocurrencies performed in the past. According to statistics, crypto markets are most volatile between 8 AM and 4 PM.
This means that crypto scalpers and daily traders will profit the most when the market is active. On the other hand, hodlers will have the most benefits when the market is less dynamic.
You can time the crypto market using various strategies. For example, you can compare the NYSE business hours with your local time and adjust your trading hours accordingly. You should also see if your investment strategy will benefit from a low or high trading volume.
What Is the Best Time of Day to Buy Cryptocurrency?
If you analyze the trends in the crypto market, you’ll discover that most trades happen at the same time as the trades on the New York Stock Exchange. You’ll also notice that most crypto investors will buy their coins before the NYSE opens. Why? Because cryptocurrency prices tend to be lower during that time frame.
The situation will be similar during the evening hours. Since most people are sleeping, there will be much less trading activity, which will result in lower prices.
Another thing that can help you determine when to buy crypto is to monitor the situation with digital assets that have high market caps, like Bitcoin and Ethereum. Namely, when the value of these cryptocurrencies increases or decreases, the same will happen with all the other top altcoins.
What Is the Best Day to Buy Cryptocurrency?
Monday seems to be the best day to buy crypto since trading activity is lower than usual at the beginning of the week. Generally speaking, the prices of most altcoins will be lower at the beginning of the week. This also means that the price of altcoins will be lower during the weekend.
Why is that so? Because various information about the development of crypto projects accumulates during the week. This affects their overall value. Furthermore, due to reduced trading activity, crypto gas fees tend to be higher during the weekend.
What Is the Best Time of the Month to Buy Cryptocurrency?
It’s difficult to determine which month is the most favorable for buying cryptocurrencies due to frequent changes in trends. However, it seems that it’s better to buy altcoins at the end of the month. Namely, altcoin prices are usually higher at the beginning of the month, after which they gradually start to drop as investors start selling them.
Based on the market sentiment analysis, April and November are usually the best months to buy altcoins. The highest returns are generally recorded during these months.
Is Now A Good Time to Buy Crypto?
If we look at the crypto fear and greed index, whose current score is 70, we can conclude that it’s a favorable time to buy digital assets. — the market sentiment is currently in the greed zone. However, keep in mind that this index only shows information about the current market sentiment. As such, we cannot use it as the only source of information.
This means that we also need to take crypto market forecasts into account. On that note, during December, BTC crossed the $44,000 mark. This upward trend was followed by other altcoins as well. This is another indicator that the current state of the crypto market is favorable for investors.
Moreover, in January 2024, several major crypto events will take place, such as the Metavsummit, where Web 3.0 products will be presented, as well as the World Crypto Forum. These events could lead to increased interest in new crypto projects.
What Is the Best Time to Buy Bitcoin?
When to buy Bitcoin? During the afternoon, because that’s when its price will be the lowest. Regarding the time frame, BTC usually has the lowest price on Friday, at 6 AM UTC. Why? Because BTC is closely related to trading activities in Asian markets, which tend to be less active on Friday.
On the other hand, BTC is most volatile at 01:00 UTC, as both Asian and Western traders are most active during that period.
Unlike altcoins, you shouldn’t buy BTC on Monday. The best days to buy BTC are Saturday and Sunday because that’s when its price is the lowest.
Is Now a Good Time to Buy Bitcoin?
If we take into account its price fluctuations so far and future predictions, we can conclude that now is a good period to invest in BTC. First of all, the price of BTC experienced a steady growth during December, from $39,000 to $44,000. Bitcoin is also expected to reach the $45,000 mark by the end of the year.
Secondly, the Bitcoin ETF should become available in January in the US. This will allow investors to buy shares in a Bitcoin ETF instead of owning bitcoins directly.
Now that you know the best time to buy crypto, use this knowledge to create a good investment plan. For example, if you want to invest in BTC, you should buy it when its price is lowest: during the weekends. On the other hand, the best day to buy altcoins is Monday.
Furthermore, investors generally buy cryptocurrencies at the beginning of the month. This means that their prices will be the lowest at the end of the month. When it comes to time frames, cryptocurrencies tend to be cheapest during the afternoon while they are most volatile between 8 AM and 4 PM.
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