Aside from knowing where and how to do it, it’s also important to know when to do it.
As you know, or may have noticed, the market is unpredictable. One day, the price can go really high, another one, it can simply drop. Indeed, this may seem scary, especially if you are at the beginning of the road.
One important — or maybe the most important — rule for investing is: don’t invest more than you are willing to lose. Yes, it’s possible to lose it all and you have to take that seriously into consideration when you set your investing budget. Maybe think about some money you have been saving that you don’t need at the moment and you can lose for now without a major impact on your life.
Investing, apart from experience and understanding how the market works, is also based on luck. So, yes, it’s possible to make a great amount of money out of your first investment, but there is also the possibility that you won’t.
Every investor has been there. Everyone has been losing money at a certain moment but continued to study and believe in the market, knowing such a situation is not permanent.
We aim to help you invest your money as wisely as possible.
So, today, we are sharing what seem to be the best moments to buy and/or sell cryptocurrency.
So, When to Buy/Sell Crypto?
The crypto trades run all day long, with many different strategies employed by all kinds of traders. However, by analyzing a few months of data, one can notice that for the cryptocurrencies with some of the highest cap rates, there seem to be better moments than others to buy or sell. Other smaller cryptocurrencies tend to follow the same pattern.
The best moments of the day to buy seem to be in the mornings: the earlier, the better; and from 11 PM. If you want to sell, it seems the highest price is during business hours.
As for the day of the week, statistics show that it tends to be Friday when the prices go the lowest. Saturday and Sunday are also good days because there seem to be fewer people trading. If you want to sell, the highest prices were usually noticed on Mondays and Tuesdays.
During the month, the best time to invest seems to be at the end of it. In the first 10 days of the month, values tend to rise. After the rise, there comes a price collapse, most likely because people dash to sell when they see the price has risen.
For example, Longhash studied Bitcoin’s hourly price data for 2 years. They have noticed that the average lowest price was on Fridays, at 6 AM UTC. The highest prices were noticed on Mondays and Tuesdays, around midnight.
However, if you want to create and study your own data, you can follow the cryptocurrencies you are interested in and see their evolution during the day, week, and month and make your own assessment.
Of course, all that remains is to choose the right trading platform and put your findings to the test.
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Disclaimer: The content of this article is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives and specific financial and fiscal circumstances.
Although the material contained in this article was prepared based on information from public and private sources that IXFI believes to be reliable, no representation, warranty or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and IXFI expressly disclaims any liability for the accuracy and completeness of the information contained in this article.
Investment involves risk; any ideas or strategies discussed herein should therefore not be undertaken by any individual without prior consultation with a financial professional for the purpose of assessing whether the ideas or strategies that are discussed are suitable to you based on your own personal financial and fiscal objectives, needs and risk tolerance. IXFI expressly disclaims any liability or loss incurred by any person who acts on the information, ideas or strategies discussed herein.
