Bitcoin is one of the top investment opportunities today. Whether you’re a newbie just starting with crypto or an experienced professional, the first thing you have to know is when is the best time of the day to buy bitcoin? The answer to this question matters a lot because crypto, in general, is not as stable as traditional stocks.
There are days in which bitcoin saw a blue sky breakout and a bearish pattern on the same day. It is essential to know the best time of day to buy bitcoin. This strategy will make great profits and will ensure that you won’t take a hard hit if the coin is bearish.
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What is the Best Time of Day to Buy Bitcoin?
Many investors have been asking themselves the same thing. The thing about bitcoin and other cryptocurrencies, in general, is that they often don’t follow the same affecting factors as stocks do. If you want to learn more about stocks, we recommend a great site called pengar.gg. Since most of the analyses we have available are for traditional stocks, applying them to crypto may not be that effective.
Thankfully, bitcoin is the first cryptocurrency ever released, and we have around ten years of data to perform the required analysis. Many investors and researchers determined that there is a strong relationship between time and investment. This analysis may not make much sense but consider this. Bitcoin is observed to do well mostly when the previous week’s growth is 20% or above.
The research gives us a rough metric, but it still doesn’t answer our question. Since bitcoin follows some relationship, we can base our investments on that. Before determining the best time of the day to buy bitcoin, we have to determine the best day in a week.
Best Day of the Week to Buy Bitcoin
Even though bitcoin is not as stable as stocks, there are certain patterns that the coin follows. We can identify these patterns by performing a technical analysis. Technical analysis may be a tad difficult at first, but you’ll get used to it after a week or two.
In recent weeks, we have been seeing a lot of mass selling on the weekends. Bitcoin’s price got too high too quickly. This called for a bitcoin correction. Usually, when there is a bitcoin bull run, we see the altcoins take the hit. However, Ethereum and a few other coins like MATIC, Cardano ADA, and a few others are still seeing some profits.
This is all changing on the weekends, and most of the crypto market is seeing a major bearish run on both Saturday and Sunday. However, there is no guarantee that this pattern continues for long.
Bitcoin, along with Cardano Ada and Matic, is looking neutral this Friday. Since there are hundreds of parameters that may influence the coin value, we cannot say for certain whether the pattern repeats this weekend.
However, if you are looking for a good investment chance, be on the lookout for major dips on the weekends.
Best time to Buy Bitcoin
Now that we have established the best day to buy bitcoin, let us see what the best time would be. Most of the crypto transactions are from a few major countries like the USA, Australia, UK, and many European countries along with Japan, China, and India. The market sees some movement in any direction when these countries are awake.
If you want to get in when the price is neutral and is not moving either too high or too low, it is when the US is asleep. Many investors in the community buy bitcoin at around 1-2 AM EST. However, this shouldn’t be the only metric that determines your purchase.
It is extremely difficult to predict when to buy bitcoin since there are too many parameters involved. Both the best day and the best time to buy bitcoin keep changing every week. The only way to keep track of the changes and make an accurate prediction is with technical analysis.
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Technical Analysis to Predict Best Buying Time
Since bitcoin and other cryptocurrencies are a tad volatile, the best way to tell when to buy them would be with technical analysis. If you are familiar with general trading, you must have heard about technical analysis.
In technical analysis, we use charts and various patterns to determine the coin value in the future. In Layman’s terms, it is an extrapolation method. We’ll first study the patterns, link them to bitcoin, and plot the future patterns using various resources.
If you want to get serious about crypto investments, you must learn technical analysis sooner or later. There are a lot of tools to learn TA quickly. One of the best places to learn TS is from the ChartGuys Youtube channel. There are various courses available on Udemy, Coursera, and other platforms if you want to learn the TA in-depth.
When to Sell and When to HODL?
The best time to buy bitcoin is when the price is low, but the coin is bullish. You can easily tell if the coin is bullish by checking the volume. When it comes to crypto, it’s almost all about the volume. If you see more thick green candles, the coin is bullish, and the price may increase soon.
Now, when to sell your bitcoin? Bitcoin is a fantastic investment. It can bring you a whole lot of profits in the short-term. However, if you just HODL and sit tight, you may see unbelievable profits in the long term.
One of the basic rules of crypto investment is to invest only what you can afford to lose. Not just with bitcoin, but the principle applies to other altcoins as well. If you are not ready to lose the investment, you may have to sell pretty quickly when you see a bearish pattern to avoid losses.
Bitcoin is a great investment for anyone. Knowing when to buy bitcoin and other altcoins can bring in way more profits in the long term while avoiding big losses. Study the market carefully to determine the best time to buy and sell.