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The Best Time To Buy Cryptocurrency | Bitcoin, XRP, Etherium and others



Buying Bitcoin or any other cryptocurrency is used to be a real pain, but that is no longer the case. People can now buy cryptocurrencies in minutes from virtually anywhere on the planet thanks to the launch of modern smartphone and web services. However, the majority of the available providers charge exorbitantly high rates and commissions. Bitcoin's instability is well-known, which is a double-edged sword. People can now buy cryptocurrencies in minutes from virtually anywhere on the planet thanks to the launch of modern smartphone and web services. However, the majority of the available providers charge exorbitantly high rates and commissions.

Cryptocurrencies are notorious for their uncertainty, a double-edged sword that has rapidly transformed several investors into millionaires while still burning others. If you want to invest in the cryptocurrency world, the obvious question is when is the best time to do so.

The Best Time To Buy Cryptocurrency

Let's be honest. There aren't many people in the cryptocurrency industry who are well-versed in finance. The majority of cryptocurrency users are self-taught, while others rely on conventional financial expertise. As long as the shoe fits, there's nothing wrong with that.

Academics at Yale University developed a method for predicting bitcoin prices based on past market behavior. Yukun Liu and Aleh Tsyvinski, two economists, studied bitcoin's price over the last seven years and created a model that forecasts BTC's price. When it comes to the factors that decide price swings, cryptocurrencies vary significantly from conventional assets, according to the report.

Economists have shown that, unlike stocks and commodities, Bitcoin and other cryptocurrencies depend heavily on momentum. To put it another way, if Bitcoin is doing well, it will most likely continue to do so in the near future. Investors can buy the leading digital currency if its value rises by more than 20% in a week, according to this report.

What is the best day to buy cryptocurrency?

Traditional stock exchanges are only open at specific times of the day and week. The cryptocurrency industry, on the other hand, is open 24 hours a day, seven days a week. As long as you have an internet connection, you can buy, sell, share, and trade cryptocurrencies at any time. Even though there are no trading sessions that account for more or less volume, there are certain parameters to take into account before buying cryptocurrency.

Sunday and Monday are the best days to buy bitcoin, according to several reviews of average daily bitcoin values. This argument is solely based on the fact that rates are at their lowest on those days.

Theories To Get Bitcoin and Other Cryptocurrencies Timing Right

We've narrowed down three hypotheses after reviewing various approaches to determining the best time to buy cryptocurrency:

1. The demand for Bitcoin decreases on weekends, causing its price to fall on Mondays. On the other hand, the price of Bitcoin is expected to be higher on Fridays and Saturdays.

2. According to this theory, people buy Bitcoin on weekends and execute orders as soon as the week begins. In this case, Monday volumes are higher, with a more cautious attitude predicted as the week progresses.

3. Experienced traders will stop purchasing bitcoin on pay days for 9-to-5 employees, which are normally in the middle and end of the month. The argument is straightforward: when people have money in their pockets, they can buy bitcoin, which increases demand and raises the price.

The cryptocurrency is open 24/7. You can buy at the popular exchanges like Binance, Hotbit, Kucoin, Bitmart, Gate.io and many more.


Image Source: https://media-library.webinarninja.com/151206/Buying-Crypto-Stack.JPG


 

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