If you are a crypto trader or investor. you need to have the right ideas of the realm, you should know the correct time to buy Bitcoin and also the right time to sell Bitcoin.
If you get delayed even by a while in selling crypto you may have to face a huge loss. The same can happen when it comes to buying Bitcoin.
Here in this article, we provide you with strategic tips on when to buy and sell your Bitcoin.
Is there a right time to buy and sell Bitcoin?
One of the perks of cryptocurrency is that you can buy them anytime from anywhere.
You do not have to wait for a certain time period of the day or month and no holidays are applicable for cryptocurrency dealings. It is considered as a major highlight by many.
However, is it advised that you go and buy cryptocurrency at any time that you like? Conventionally, there are some established right times to buy and sell cryptocurrencies and the same is the case with Bitcoin.
You can buy Bitcoin at any time you like. It can be during the early hours of the day or, the late hours of the night or at midnoon and you can sell Bitcoin at any minute you want.
However, the top crypto analysts think that buying Bitcoin at certain hours may turn more profitable.
And also there are some best times to sell Bitcoin. Are you already familiar with this piece of information? Or, are you hearing it for the first time?
Anyway, we intend to take you to the correct timings for Bitcoin buy and sell so that you can yield a profit.
What is the right time to buy Bitcoin?
Many investors think that the best time of the day to buy Bitcoin is early in the morning. That is before the NYSE opens.
Typically, the price of the cryptocurrencies goes up as the day goes by. So, it is advised to buy Bitcoin before the price goes up.
Just like the best time in a day to buy Bitcoin, is there a best day of the week to buy Bitcoin?
Yes, there is. It is Monday. Usually, Bitcoin trades start rising on Monday and keep on rising tight on the weekdays to fall down towards the weekend.
After a low weekend, the prices pick up again starting on Monday. Therefore, experts think that the early hours of Monday are the absolute right time to Buy Bitcoin.
Now, what about the best time of the month to buy Bitcoin? Conventionally, the best time to buy crypto in a month is towards the end of the month.
This is because at the start of the month, Bitcoin may have a higher price and it goes on fluctuating throughout the month to reach its lowest point at the end of the month. This can result in low prices towards the month’s end.
However, you have to note that their strategies are based on the typical trends that we have seen in the market.
You need to analyze the crypto market closely for the minor fluctuations that can happen throughout the day.
Bitcoin is widely known for its sudden and unpredicted cost fluctuations which can make change in all the above assumptions.
You should be tracking the movements of the Bitcoin market throughout the month to find out the best time of the month to buy Bitcoin.
The right time to sell your Bitcoin
- When the price is consecutively falling down over days and weeks
When you see that the price of Bitcoin has been treading downwards for weeks back to back, it may be a sign of fall.
The crypto may pick up again, but we will not be able to predict ‘when’.
- When there is a huge negative news
When there are topping headlines that negatively impact Bitcoin, there is a high chance that the value of the crypto may collapse.
For example, if the net worth of a major cryptic whale or a huge BTC investor crashes, then it is definitely going to impact Bitcoin.
Likewise, when there is a federal or international law or regulation that poses many restrictions on crypto, it may also push down the value of Bitcoin.
- When you see multiple crypto whales selling their Bitcoin holdings
If you ever notice that multiple crypto whales are selling off their Bitcoin holdings, then it is best that you sell your Bitcoin asset as soon as possible.
The activities of the crypto whales have a huge impact on the Bitcoin market. More than one of them may proceed to sell Bitcoin when they are aware of it or when they highly doubt a major fall in Bitcoin.
Also, when they sell their shares on a large scale it can again negatively affect the Bitcoin market. So, you are advised to sell your shares as well.
The Bottom Line
We suggest you keep on checking the Bitcoin market. You should always have access to the latest updates on BTC prices.
If you can not keep on examining the Bitcoin market to analyze the trends, then you can consider being a part of the Telegram groups where you can get all the latest news.
Make sure that all cryptocurrencies including Bitcoin are notorious for their volatility.
Therefore, make sure that you have your eyes on Bitcoin as well so you do not miss out on anything.
All that we shared in the above article are the general patterns that have happened until now.
However, there have been instances where cryptocurrencies have crashed during the day and picked up momentum during the weekend. All the best guys!
