The Best Time Of Day To Purchase Cryptocurrency

The cryptocurrency market, unlike traditional stock markets, is open 24 hours a day, seven days a week. Anyone with Internet access can purchase Bitcoin at any time and from anywhere.

Sundays and Mondays are the ideal days to purchase Bitcoin, according to a study, because the cryptocurrency's price is lowest on those days.

The reason why Sunday evening is the best time to purchase Bitcoin is because weekend trade volumes on all cryptocurrency exchanges tend to decrease. The derivatives industry titan CME Group takes a weekend break. Every day, institutional investors trade about $500 million worth of bitcoin, which represents a significant portion of bitcoin's global volume.

When Should You Buy Cryptocurrency?

It can be difficult to time your trades to a precise time of day due to the fact that crypto deals occur all day, even into the early hours of the morning (regardless of your location). However, if you examine data from a few months, you can discern a few really broad patterns.

Typically, trading volume for Bitcoin (CRYPTO: BTC), Ether (CRYPTO: ETH), Binance (CRYPTO: BNB), Solana (CRYPTO: SOL), and Cardano (CRYPTO: ADA) rises and falls at roughly the same time. This makes it simple to compare the optimal buying times for the cryptocurrencies with the largest market capitalizations.

According to statistics from the 90 days preceding September 7, 2022, the optimal time to purchase these prominent cryptocurrencies in the United States was typically in the afternoon. Not as "serious" as Bitcoin and Ether, Shiba Inu (CRYPTO: SHIB) and Dogecoin followed the same trends as Bitcoin and Ether (CRYPTO: DOGE).

Conclusion

As bitcoin is traded around the world 24 hours a day, there is no obvious time to purchase cryptocurrency.

Buying little sums of cryptocurrency over a lengthy period of time is the best approach to invest in cryptocurrencies. This is known as dollar-cost averaging; even if you invest at times that don't turn out to be particularly inexpensive, there will be other times that are, and things may even out.

The ups and downs of the cryptocurrency market vary greatly depending on the coin you purchase. Another method for exchanging tokens. If you want to acquire crypto at the optimal time, it will pay to examine the past performance of various forms of investments.

But do not invest more money than you can afford to lose in a cryptocurrency. They are not certain winners or secure asset classes, especially if their value declines. Some people have made a lot of money by purchasing at the correct time, but it is usually more a matter of luck than intelligence.

Comments

Stock futures fall after major averages show more losses to start the week.

Stock futures went down Tuesday morning after the Bank of Japan said it would change its yield target range. Futures linked to the Dow Jones Industrial Average fell by 236 points, or 0.72 percent. Both S&P 500 futures and Nasdaq 100 futures fell by 0.86 and 1.05 percent, respectively. During regular trading on Monday, the Dow lost more than 162 points, or about 0.5%. The S&P 500 lost 0.9%, and the Nasdaq Composite lost nearly 1.5%. Stocks are likely to end the month and the year in the red, and investors' hopes for a Santa Claus rally are fading fast. "There's still no sign of Santa. "Harness up," said Louis Navellier, who started the growth investing firm Navellier & Associates. "One would like to think all the bad news is out. There are no more Fed moves until at least February. We're not getting worse, but we're also not making up for last week's losses." Investors worried that the Federal Reserve could tip the economy into a ...

Indian Law Enforcement Charges WazirX Exchange With $130M Laundering.

India's Financial Crimes Enforcement Directorate (ED) is investigating cryptocurrency exchanges suspected of processing transactions that transported over 10 billion rupees, or $130 million, from organizations under investigation to worldwide wallets. An official told The Economic Times that at least ten crypto exchanges are implicated, and WazirX's bank accounts were stopped. Companies under investigation for instant loans allegedly made transactions of up to 1 billion rupees, or $1.3 million, in the names of unrelated people. These firms often have Chinese ties. The agency alleged that no increased due diligence or suspicious transaction reports were lodged with the ED despite KYC/AML procedures indicating problematic transactions. Last Friday, the ED blocked WazirX bank accounts containing 647 million rupees, or $8.1 million, alleging that the exchange supported 16 fintech companies under investigation for money laundering. WazirX posted a statement on its blog Tuesday ...

Governor-in-exile reports an attack on "Wagner HQ."

Ukrainian soldiers, according to the governor-in-exile of Luhansk in eastern Ukraine, have attacked the headquarters of the Russian Wagner mercenary outfit. Serhiy Haidai reported considerable damage to the hotel where the group had convened in Kadiivka, Luhansk. Unfortunately, the BBC was unable to confirm Wagner's presence at the hotel independently. There was also heavy fighting in southern Ukraine over the weekend, with Russian forces attacking the city of Odesa and Ukrainian forces bombing a target in the captured city of Melitopol. Western experts have concluded that Wagner are state-sponsored mercenaries working to advance the interests of the Kremlin. Yevgeny Prigozhin, a former restaurateur and close associate of Russian President Vladimir Putin, established the private military business that has been repeatedly accused of war crimes and human rights abuses. Wagner forces have been sent to Crimea, Syria, Libya, Mali, and the Central African Republic before. Mr. Haidai said...

Search This Blog