Ever wondered when is the best time of day to buy cryptocurrency?Cryptocurrency trading is a 24/7 market. So whether you’re buying Bitcoin or one of the other 2,500+ cryptocurrencies, prices fluctuate a lot.But is there such thing as an optimal time to buy cryptocurrency?
And could it save you money and maximise your trading profits?In this guide, you’ll learn everything you need to know about the best time of day to buy cryptocurrency.
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Why Find The Best Time Of Day To Buy Cryptocurrency?
So what’s the benefit in finding the best time of day to buy cryptocurrency?
After all, you can buy cryptocurrency anytime you want.
Does it really matter whether you buy at midnight or midday?
Well, this all comes down to optimisation.
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Because not all trading times were created equal.
If you can optimise when to buy cryptocurrency, you’ll be better off long-term.
Even if you make a mere 2% extra by trading at the best time, you’ll reap the rewards in compound interest.
Here’s 3 reasons why.
Optimal Prices
Cryptocurrency prices often vary by up to 50% per day.
And that’s not an overstatement.
So we obviously want to get in at the best price point.
Otherwise you’re just wasting money on inflated trades.
Easier Trades
Not all cryptocurrencies have the same trading demand.
Sure, with Bitcoin you aren’t going to have a problem.
But other cryptocurrencies outside of the top 100 coins will.
> See the latest cryptocurrency prices here!
And if you try to buy in at the wrong time, you’ll get a bad price:
Or you won’t be able to buy your desired amount.
So finding the right time of day will make buying cryptocurrency much easier.
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Maximise Your Profits
If you know when you can expect prices are expected to rise and fall, you’ll maximise your profits.
And that’s going to add up over time.
If you know prices are typically 20% higher at 12AM, you also know that’s a great time to sell.
So finding the optimal cryptocurrency trading time gives you peace of mind.
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How To Find The Best Time Of Day To Buy Cryptocurrency?
So first of all, if you’re buying cryptocurrency then you want prices to be low.
As the old cliche goes:
Buy low, sell high.
But when does that happen?
And is there a pattern in cryptocurrency price fluctuations?
Let’s take a look.
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Identify When Demand Is Low
So we need to identify the hour where the price of cryptocurrency is consistently low.
How?
Well, let’s look at the cryptocurrency with the most historic data:
Bitcoin was the first ever cryptocurrency invented.
It’s an OG in the game.
And therefore, you can see Bitcoin’s trading history going back years and years.
Timeframe
So let’s analyse a random date going back from 2014 to 2017.
Let’s say July 16th.
Now let’s analyse it’s trading price over a 24 hour period.
The charts below look at Bitcoin’s 24 hour trading prices, from 12am July 16th to 12am the next day.
The Analysis
So what can we see?
2014: The price is lowest at 3pm and 11pm.
2015: The price dips at 5pm and 11pm.
2016: The price is lowest at 2pm and 11pm.
2017: The price is lowest at 2pm, but still significantly low around 11pm.
When Is The Best Time Of Day To Buy Cryptocurrency?
So as you can see from the charts above, there’s a trend here.
Typically, after 12pm, cryptocurrency prices are significantly lower.
But the price really dips around 3pm and 11pm.
And that’s a consistent pattern over the last few years.
So that – in theory – is the best time of day to buy cryptocurrency.
> See the latest cryptocurrency prices here!
Why Is This The Optimal Time To Buy?
As we were saying before, if you’re a buyer of cryptocurrency then you want the lowest price.
And the lowest price in the day comes at around 3pm-4pm and 11pm-12am.
They’re the cheapest entry points.
Key Variables
Every year there are variations in crypto market conditions between:
- A bull market or a bear market
- The number of traders
- The cryptocurrencies available to trade
- News and updates released to the market
- The type of exchange being used to trade
But whatever happens, the price fluctuation follows a similar pattern.
And despite Bitcoin’s significant increase in value over the past few years, it’s price fluctuations stay the same.
Factors That Impact The Best Time Of Day To Buy Cryptocurrency
So what impacts the best time of day to buy cryptocurrency?
This all comes down to one thing:
Supply Vs Demand
Cryptocurrency prices are based on supply vs demand:
And crypto tokens are only worth as much as someone’s willing to pay for them.
So prices are lowest when there’s the least demand on the market.
This leads me to my next point.
International Traders
Cryptocurrency trading is a global market.
There are traders across China, South Korea, the US and Europe.
But they’re all based in different timezones.
This is one of the biggest influencing factors on the best time of day to buy crypto.
Let me explain:
- 9am-5pm Eastern Standard Time: Trades will be highest in US
- 9am-5pm CST (China Standard Time): Trades will be highest in China
- 9am-5pm (KST) Korea Standard Time: Trades highest in Korea
You get the picture.
So why does that matter?
Well this comes down to volatility.
The more volatility in price, the harder and less predictable it’s going to be to buy cryptocurrency.
And that’s a problem if you’re trying to make a profit.
So if you can avoid buying cryptocurrency outside of these peak international trading windows, you’ll avoid extra volatility in prices.
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Day Of The Week
Demand for cryptocurrency is often lower at the weekends.
That means prices are typically lower too – because it correlates with demand.
So buying cryptocurrency at the weekend could a better alternative.
Market News
If you know there’s a big announcement coming up, the market will be volatile.
For example:
Let’s say the US Government are about to discuss cryptocurrency regulations in Congress.No one knows what’s going to happen next.
And just the slightest bit of positive or negative news could skew prices.
Cryptocurrency Location
If you’re trading a cryptocurrency that’s based in a particular location, it’s price is more likely to be skewed by the local timezone.
For example, OmiseGo.
OmiseGo is based in South East Asia.
Why does that matter?
Well it means their team is often going to tweet, post on Telegram and make big announcements during standard working hours in SEA.
Why The Best Time Of Day To Buy Cryptocurrency May Not Exist
OK, so it looks like the best time of day to buy cryptocurrency is between 3pm-4pm and 11pm-12am.
But is the analysis above perfect?
Hell no.
If you analysed every single day of the year, the best time of day to buy cryptocurrency would be skewed.
Prices would be all over the place.
My theory above ain’t perfect.
And everyone will have their own opinion.
Here’s a few reasons why.
Unpredictable
Cryptocurrency is notoriously unpredictable.
Price fluctuations are hella dramatic.
And there are so many variables involved that you don’t know what’s going to happen next.
Plus sometimes the market takes a beating in the space of 20 minutes.
And no-one knows why.
So yes, usually the market follows certain trends.
But it’s not guaranteed and there will be off days.
Bull Vs Bear Market
When the cryptocurrency market is going up, everyone’s a genius day trader.
But when the market’s down, no one wants to talk crypto. The truth is, even if you trade at the perfect time you can still lose money. So sometimes there’s no right or wrong time to buy cryptocurrency.
Market Manipulation
Ahhh. Whales.
Do they really control the market?
And are we powerless to their agenda?
It’s a bit of a conspiracy but certain cryptocurrencies have been called out for market manipulation.
Just look at what happened with John McAfee.
He can change the whole market in 140 characters or less.
Don’t believe me?
His daily tweets in December were creating huge pump and dumps.
So at that point, it doesn’t matter what time of day it is.
Why?
Because prices will just be too volatile to trade.
Long-Term HODL
If you’re trading long-term, the time you buy cryptocurrency doesn’t really matter.
In the long run, short term prices don’t have much of an impact.
And if you’re holding, you’re looking for those long-term gains.
So it wouldn’t matter if you bought in at 10AM or 10PM:
Over a period of months/years, the time of day is irrelevant.
24/7 Market
The cryptocurrency market is quite different to stocks.
Cryptocurrency trading runs 24/7:
Whereas stock markets typically open at 9am Monday morning and close at 4pm Friday.
And because cryptocurrency prices are influenced by global news, these 24/7 trading times can cause a lot of unpredictability.
In addition, you can check out Stacker Crypto. An app that helps you more on managing your investment.
Additional resources:
Buy & Trade Time-Sensitive Deals From Your Phone
