What is the best time to buy cryptocurrency

What is the best week to buy cryptocurrency? Or, maybe, there’s a special day of the week that guarantees quick profit? Is it even possible to calculate the best time to invest in crypto All these questions and more we’re answering below in our new blog post on the best time to buy cryptocurrency.

Perfect time to buy crypto

No perfect timing or some particular day of the week is guaranteed to be the most beneficial in terms of crypto investments. Undoubtedly, those who bought Bitcoin/Ethereum when they were just created, had more luck compared to people who have only started investing in cryptocurrencies within the past 1 or two years. Nevertheless, it does not mean that it’s already too late to buy and sell digital assets. Below we will talk about steps on how to increase one’s chances of profitable crypto trading regardless of the day of the week.

Choose an investment strategy

If you want to become a successful investor, the key step to do is to decide on your investment strategy. This should serve as a solid foundation for all future investment decisions. Such a strategy is based on one’s amount of money, goals, and, of course, engagement level in trading. For most financial markets, including cryptocurrency, such a complex approach allows investors to avoid hasty decisions in times when assets go down and, thus, gain profit no matter what’s happening in the market.

Now, we will discuss in detail one of such strategies that has proven to be safe and resultative in the unstable and unpredictable crypto market.

Dollar-cost averaging

This technique consists in investing money in cryptocurrency regularly regardless of the market fluctuations and volatility of the asset’s value. If prices rise, you purchase smaller numbers at the same price. If the price falls, then the number of coins increases, unlike their value. Generally, this trading strategy aims at reducing the risks posed by the crypto market volatility. With dollar-cost averaging, you can prevent major loss from the long-term perspective and build a strong lasting portfolio instead.

Select a crypto exchange

Safe cryptocurrency exchange with all the necessary tools included is another crucial thing to make money on trading. Look for a platform with the coins you’re planning to invest in and the needed functionality. For example, check the deposit methods available, types of wallets supported (if any), fees, timeframes, etc. The cryptocurrency exchange features play a huge role in one’s trading experience because they can either make things simple and intuitive or, on the contrary, worsen the situation.

CoinCasso is a cryptocurrency startup that provides all the necessary functionality both for beginners and experienced traders. Apart from Bitcoin, Ethereum, Uniswap, and Chainlink, we also support other big coins such as the Binance token, Basic Attention Token, Serum, Tether, Uniswap, and others. We ensure a secure trading experience due to the bank-level KYC and onboarding procedures, as well as 2FA. Start trading today with CoinCasso.

Explore trading tools available

Apart from trading features and safety an exchange guarantees, another central factor for positive trade outcomes is the set of tools for technical analysis. Technical indicators provide an in-depth understanding of market trends. Consequently, by analyzing an altcoin‘s past performance, one can try to predict how it will behave in the future. Such predictions are never 100% precise because of the extreme volatility of cryptocurrencies. Nevertheless, such an analytical approach based on real-life figures and numbers ensures better investment opportunities and results.

Here’s a list of our articles that overview the most common and the most important technical tools:

• Hammer candlestick patterns
• Death cross vs golden cross
• Bull trap
• Bear trap

All things considered, buy low and sell high is the golden rule of investing in crypto markets. Remember to use technical indicators and diversify your portfolio to minimize risks. And, one last thing: the best time to buy crypto will vary depending on such factors as the investor’s goal, the asset, the market sentiment, etc.

FAQ

What is the best time to buy crypto?

Unfortunately, there's no one specific time or period when it's definitely worth purchasing cryptocurrencies. The whole crypto market is extremely volatile and sensitive to world politics and the economy. For instance, after Queen Elizabeth II passed away, various NFTs portraying her flooded the market. Some tokens were extremely cheap, while others were expensive. Such a situation is a vivid example of how the cryptocurrency market reacts to major world events. One's timing for investing in crypto depends on their investment strategy, budget, tools available, and goal. If you're a long-term investor, it's wise to stick to a dollar-c0st averaging strategy to eliminate risks and losses. Otherwise, you might want to enter quick trades and make money quickly.

When to buy Bitcoin?

Crypto newbies and amateurs might wonder whether it's already too late to buy BTC. But even though it's the first cryptocurrency and its number is limited, the price of Bitcoin will likely be growing in the future and, what's more, will be defining crypto markets' growth or downturn.

How to know when to buy crypto?

There's no best time to buy digital currency but there definitely are some pieces of advice to increase one's chances for a truly profitable investment. First of all, one should learn as much as possible about the cryptocurrency industry, trading, and market trends. It's not wise just to try your luck and invest in random digital assets without a basic understanding of how things work. Secondly, determine the best crypto exchange according to your needs and explore the tools it offers. These can be charts, orders, various candlestick patterns, etc. The more advanced tools an investor is using, the higher chances of making a profit. All the charts and crypto trading tools are based on data analysis and were created to understand why and how a coin's price will be changing. Finally, diversify your portfolio and do not spend all the funds available on trading.

What time of the day is best to buy cryptocurrency?

Normally the best time for purchasing crypto is around noon. On average, the best time of day to buy coins is between 3 pm and 4 pm European time. And here's why: at this time, American traders are sleeping and, consequently, the trading volume on exchanges declines. As volume gets lower, prices drop a bit as well.