As Bitcoin once again rises into prominence, more and more traders are becoming invested in the world-changing cryptocurrency. Though Bitcoin is once again flourishing, it means that new traders are coming to the scene. Interest in investing in Bitcoin is incredibly high. Many cryptocurrency investors are first-time buyers. If you want to get the best price, you need to know the best time of day to buy Bitcoin.
While it may seem like any answer to this question would be pure speculation, there is hard data to support a conclusion. We know the best time of day to complete a Bitcoin purchase. We’ll show you through expert analysis and reliable sources.
Why should I care what time of day I buy Bitcoin?
If you are day-trading or swing trading Bitcoin, the chances are that this knowledge won’t help you. You will be entering and exiting trades at all different times throughout the day and the week. However, if you are investing steadily on a weekly basis in Bitcoin for the long-term, you very much need this information. While a percent or two might not sound like a huge difference, it is when you compound it over several years. This is especially true when you consider the fact that Bitcoin’s compounding power is the greatest of any investment.
Simply put, if you want to get the best returns from your consistent, regular investments in Bitcoin, you are going to want to know the best time of day to buy Bitcoin. This will allow you to compound your returns over years and enjoy better gains.
What is the best time of day to buy Bitcoin?
If we want to know the best time of day to buy Bitcoin, then it’s best to take a rational approach. One thing that you should be aware of is that the answer will vary due to what country you are in and what exchange you are using. The reason for this is the various time zones and the fact that Bitcoin markets never close. The best time of day to buy is different for everyone. However, one rule that is the same for everyone is that the best time to buy Bitcoin is when volume is low.
This means that you should complete Bitcoin purchases when the volume on the exchange that you are using is lowest. At these times, Bitcoin is more prone to price swings and volatility. This allows you to catch oversold dips. If you’re willing to watch charts on weekends and late in the evening/early morning, you could catch a great price entry. However, this does require some dedication.
What is the best day of the week to buy Bitcoin?
If you want to take it even a step further, then you can learn about the best day of the week to buy Bitcoin. Knowing the best day and the best time allows you to get the best price possible. As it turns out, the best day of the week to buy Bitcoin is Sunday. Again, this is due to the decreased volume over the weekend and especially on Sunday. If you want to nab a good Bitcoin price entry, then waiting until midnight or later on a Sunday is your best option.
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