Best time of day to buy bitcoin? Is That Even A Thing?

March 8, 2023

Someone told you there is one specific time of day when you should buy bitcoin, and it triggered your interest, but you are not sure if that is even a thing? Read on, and we will explain what the theory behind such claims is.

Bitcoin and any cryptocurrency, in general, are known to be very volatile. That has its pros and cons. It has seen some people become millionaires while others burn down to the ground. You may be wondering: What’s the secret? Well, it’s not a secret anymore. The trick is to know the right time to buy Bitcoin.

Best Day To Buy Crypto – TL;DR

Buying Bitcoin on Sundays and Mondays could be advantageous as the crypto price of Bitcoin is usually at its lowest on those days due to lower trading volumes over the weekend.
Research suggests that Bitcoin is most volatile at around 1 am UTC, likely because Western and Asian traders are actively trading simultaneously at that time.
The best time to buy crypto is when the buyer is feeling confident in their strategy and financially ready to make a move, according to experts.
Cryptocurrencies are most active during the workweek, with prices starting low on Monday morning and steadily rising until they drop over the weekend.
Paying attention to stock market trading hours can also have an effect on cryptocurrency trading, even though you can buy and sell cryptocurrencies 24/7.
It is important to be aware of your risk tolerance by forecasting your cash flow and watching cryptocurrency market trends before making a purchase.
Using dollar-cost averaging, or buying a little bit at a time over an extended period, is a useful strategy to control the volatility of your investment.
Multiple analysts have suggested that Monday is the best day to buy cryptocurrencies, as Bitcoin’s price is consistently lower on Sundays and Mondays based on daily averages over week-long periods.
Timing a cryptocurrency buy is never cut and dried as the market is traded 24 hours a day by investors around the world, so using dollar-cost averaging can help to even out any volatility.

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Let’s face it; most people do not have all the knowledge required to deal with Bitcoin. Many Bitcoin active traders are self-taught, and this eventually works as long as the need is met. Several economists have researched the best time to buy Bitcoin is providing their observations based on several factors and analyses.

First, they took note that the factors determining price swings in cryptocurrency are very different from those that affect traditional assets. Bitcoin prices rise rapidly and fall just as fast. It is therefore advisable to only invest in Bitcoin when its value increases by 20% in the previous week.

Before we tackle the best time of the day, let’s begin by, first of all, deciphering what day is best if one is planning on buying Bitcoin.

The best day of the week to buy Bitcoin

It is crucial to take into account that, unlike traditional stock markets, the cryptocurrency market is open 24/7. You can buy Bitcoin at any time of the day from anywhere as long as you have an internet connection.

According to an analysis carried out, the best days to buy Bitcoin are Sundays and Mondays, for the sole reason that on these days, the crypto price of Bitcoin is at its lowest.

The reason to explain why Sunday evenings are the best time to buy BTC is that trading volumes on every crypto exchange usually drop during the weekend. US derivatives giant CME Group, which also contributes significantly to bitcoin’s global volume (over $500 million daily) traded by institutional investors, go on a break during the weekend.

Theories behind the specific days

Multiple theories explain how to determine the best timing to buy Bitcoin. We are going to look into three.

The first theory suggests that the demand for Bitcoin slows down during the weekends pushing its price to lower on Monday and higher on Fridays.
A second theory suggests that most people tend to buy Bitcoin during the weekends and begin trading during the week, meaning that the trading volume is high on Mondays.
A third theory suggests that it is best to avoid buying Bitcoin during periods when 9-5 workers get paid. The more the money, the more the demand for Bitcoin.

Best time of day to buy Bitcoin

We have narrowed it down to the best days to buy Bitcoin and even further looked into several theories that can help you better ascertain your decision. Now let’s take a deep dive and take a look at the best time of the day to buy Bitcoin.

Take note of the fact that the BTC is highly volatile, and its price changes within a short period. Searching for the best time to buy Bitcoin, however, depicts a focus on the short-term focus on the price of the Bitcoin, which is not advised.

The best thing you can do is to adopt the following practices that are sure to keep the risk of losing all your money at bay.

✅ Educate yourself

Do not begin trading in cryptocurrency if you do not know anything about it. Cryptocurrency is not a platform to chase quick profits. There are numerous risks involved with it.

Get on the internet and research. You can get material from the Nakamoto institute and even get a lot of information on Youtube. It may be time-consuming, but that is the right way to go about it

✅ Don’t panic sell

I know what you’re thinking. What if the Bitcoin market price is high? Isn’t it advisable to sell and gain profit? Yes, it is good to do so if you plan to sell when BTC reaches a certain price height. However, if you got into panic mode by reading or listening to stuff online and think you need to sell before it all crashes – then, NO – don’t do that.

Take note of the fact that holding Bitcoin long-term is the best strategy. Bitcoin is in the process of slowly monetizing. Wouldn’t it be useless to sell and accumulate fiat money which would eventually prove to be worthless?

✅ Buy on the dip

Cryptocurrency being highly volatile, it comes without question that at some point, the market price of Bitcoin will fall. The best time to invest in Bitcoin is at this time. If you are new to cryptocurrency, this may sound counterintuitive to you. However, take note of the fact that Bitcoin is very volatile. Prices could go down right now and appreciate within the next hour.

✅ Understand current markets and trends

It is advised to make sure that you know how to study market trends and decide the best time to invest in cryptocurrency. You should be able to make decisions based on market trends and not based on what every trader is doing.

How to keep track of Bitcoin prices

Having concluded that there is not exactly the best time to buy cryptocurrency due to its volatility, let us look into a concept that will prove to be even more useful.

Keeping track of Bitcoin prices will notify you when its price has gone down for you to buy it is essential. You can keep track of Bitcoin prices using several apps, including Binance, TradingView, Plus500, Coinbase, Delta App, and Blockfolio, to name a few.

You can set alerts on whichever application you get so you will be notified when the Bitcoin either goes up or down.

At what time of the day is Bitcoin most volatile?

We have concluded that due to volatility, it gets challenging to decide on the best time of the day to buy Bitcoin.

However, knowing the hour of the day when Bitcoin is most volatile can prove to be very vital. Research and analysis of the crypto market trends have shown that Bitcoin is most volatile at around 1 am UTC. That could be because this hour is the beginning of the evening in North America. In contrast, it is the beginning of the workday in Asia. At this time of the day, Western traders and Asian traders are most likely to be actively trading simultaneously.

So, the best time of day to buy cryptocurrency is around 1 AM UTC.

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In conclusion – Best day of the week to buy crypto

Is there a thing as the best time of day to buy cryptocurrency? From all the theories, research and analysis, it is clear that there is no such thing as a perfect market when it comes to cryptocurrency. Unlike other traditional assets, cryptocurrency is very volatile. You could make some quick only today and lose it all tomorrow. That is not a matter of sheer luck. It’s about doing as much research as possible and making sure that as a crypto investor you are investing what you can afford to lose.