Based on the same data used to identify the best times to buy cryptocurrency, it appears that Thursday is the best time of the week to buy cryptocurrency. Looking at data for October and November, the best times of the day to buy these popular cryptos are typically early morning, with earlier being better.
Cryptocurrencies are traded 24/7, so the notion of a crypto day is inapplicable. They can do this because of their decentralized and poorly-regulated operations However, trading times tend to peak between 8:00 AM and 4:00 PM. Price trackers for cryptocurrencies often only record price behavior for twelve-hour periods, though.
To keep things brief, the best time to purchase cryptocurrency is whenever you are willing to purchase it.
Because cryptocurrency is traded around the world 24/7, the timing of buying cryptocurrency is never a cut-and-dry matter. That is, you are not limited to cryptocurrency markets hours like when trading stocks or bonds, as crypto trades can happen 24 hours a day, year-round. As stated earlier, cryptocurrency markets are operational 24/7, all day, every week, and they are not closed on weekends. This is compared with the traditional stock markets, which have stricter trading hours and is open from Monday through Friday only.
Prime Trading Hours for Crypto Markets
The market’s prime trading hours are usually between 8:00 am and 4:00 pm, depending on the market’s local time. Crypto markets are open 24/7, on all days, offering cryptocurrency trading year-round. Cryptocurrency exchanges can convert cryptocurrency to large, government-backed currencies, as well as convert crypto to other cryptocurrencies.
For these buyers and sellers, crypto exchanges streamline the process of trade, showing live values of different cryptocurrencies (the actual cryptos at any given exchange will differ), and allow traders and investors to buy, sell, and exchange.
There are no added barriers of entry beyond confirming one’s identity and funding an exchange account, allowing retail investors or day traders access, study, and engage in the crypto markets. Volatility and liquidity are the two elements that day traders will need to engage heavily with the crypto markets. Day trading cryptocurrency is an adventurous endeavor that is made possible due to the clear volatility and liquidity of crypto markets. Activity can fluctuate at the close depending on how many traders are up, but the crypto markets do not seem to be stopping.
Trading Is Better at Certain Times During the Day
This does not necessarily mean there are no days or times when trading is better as there may be variations in the number of traders and overall level of liquidity in the cryptocurrency markets. Since cryptocurrencies are traded throughout the day, including into the wee hours of the morning (no matter where you happen to live), timing your trading for specific times of the day could come at a cost. There are times and days which are usually most conducive for crypto traders to make a trade.
Crypto day traders can end up getting stuck on a graph, looking for the right moment to make a trade, longer than what they might need in the mainstream markets.
While day trading comes from the traditional markets, cryptocurrency day trading requires in-depth knowledge about cryptocurrency and blockchain technologies to find consistent success. Some of the criteria that we look for in reviewing the best cryptocurrency day trading platforms include lower fees and commissions, lots of supported markets, and access to investing tools and features.
In this guide, we will be reviewing the best day trading crypto platforms on the market now, along with some key insights into the workings of this investing scene. Crucially, the general concept of day trading cryptocurrency is that you are going to look to capitalize on the market trends for a short period.
Don’t Play Investment Games Without First Practicing
In terms of whether or not you should be targeting markets with increased levels of volatility, it will ultimately come down to your experience in this space. The amount of money that you can earn from trading cryptocurrency day-to-day will depend on how successful you are at forecasting markets. Day trading crypto does not require you to sign up for a brokerage account or a margin account, making it easier than the traditional markets for you to dabble in short-term trading.
You can receive live updates about cryptocurrency prices, add a few coins to your portfolio, or tweak your cryptocurrency day-trading strategy during off-hours, weekends, and holidays.
To start, you will have to open an account with the right Bitcoin exchange to suit your day-trading needs. Apart from selection, there are a few more factors you have to consider to make sure that you choose the best bitcoin exchange for the day trade. Crypto day traders need to carefully examine an asset’s trade volume to assess if it is possible to sell it fast and for higher prices compared to buying.
Day traders using range-based trading techniques determine the period when it is best to buy the crypto asset when it is undersold (at lower prices) and sell it when it is overbought (at higher prices) to profit.
Day Traders Operate with Less Information
When looking at a stock market, investors and traders can determine at which price point the stock closed for the day. Traders and enthusiasts do not have time to monitor each cryptocurrency traded in the market throughout the entire day, but when looking at days closing in the market, they can get a quick snapshot into how a cryptocurrency is performing.
Successful cryptocurrency traders realize that while the cryptocurrency markets are open 24/7, it is possible to make more successful trades when you execute transactions while the market is active globally. Because cryptocurrency is traded around the clock, there are times in the 24 hours when banks and exchanges are closed, and the money is not moving as fast or as efficiently as during working hours.
This can result in delays: If a crypto trader is trying to put money in his or her cryptocurrency exchange account to make a trade at, say, 2 am EDT on Sunday, the money does not move until the following day. Currently, about 4 pm UTC marks the busiest time of day for bitcoin trades. Most importantly, this day trading platform is the most secure cryptocurrency day trading website on the market — because the provider is authorized and regulated by SEC, FCA, ASIC, and CySEC.