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.