Due to the extremely volatile nature of cryptocurrencies, it is paramount to be time sensitive when buying cryptocurrencies. The frequent price fluctuations in the crypto market can lead to massive investment losses. Hence, to be on the safe side as an investor, you should make purchases within specific windows to receive the best possible price. So when is the best time to buy crypto? Well, let’s find out.
An overview of cryptocurrency
Cryptocurrency is simply a digital currency that people can use to trade. This kind of currency is not controlled by any central bank or government, as its value is generally determined by supply and demand. Some examples of popular cryptocurrencies include Bitcoin, Ethereum, Litecoin, and Dogecoin.
As an investor, if you think that the price of a cryptocurrency will go up in the near future, you can buy the coin and hodl it on platforms like Bitmama, and then resell it for a much higher price after the value has increased. This way, you make a profit from your investment.
To have an idea of the best time frame for your investment style and budget, go through your crypto portfolio’s performance over the last three months and follow the trend. If you are profiting and want to put more cash into the market, watch out for the trends over the subsequent three months.
If you’re losing and hoping to cut back losses, look over what’s ahead over a similar duration from now. Depending on the strategy you use, you may want to hop on a buying possibility a few weeks before or after anything big happens in the world of cryptocurrency.
What is the best time of the day to buy cryptocurrency?
The best time of the day for you to buy cryptocurrency is a widely debated topic, especially on social media platforms. The general belief is that there are primarily two periods during which investors should be looking at buying cryptos, which are in the morning and evening.
The reason behind this answer is simple. Essentially, during these times (and particularly in the mornings), crypto exchanges will have lesser activity compared to other times of the day. In the afternoon, many crypto traders are likely to be buying or selling their tokens and this will create a lot of traffic. For this reason, the prices of cryptos are likely to be higher by this time.
Hence, crypto prices are likely to be far more stable than they would actually be at other times of the day when there’s increased activity. When fewer trades are taking place generally, you are likely to buy cryptocurrencies at the best price.
To be on the safe side, it is best to analyze months of data and observe the daily trends. Also, paying attention to prominent cryptocurrencies like Bitcoin, Ether, and Solana can help you determine the best time of the day to buy cryptos.
What is the best time of the week to buy cryptocurrency?
The best time of the week for you to buy cryptocurrency depends on your portfolio. You also have to observe the current crypto trend during that period. However, some experts have given their different opinion about this subject.
According to some experts, it is best to buy crypto during the weekend. Essentially, this is because, during the weekends, there are fewer transactions occurring, and thus less price fluctuation in the crypto market. Hence, you can get a far better deal for your tokens and purchase more at a time than if you were attempting to buy during the week.
Some other groups believe that crypto prices start very low on Monday and increase throughout the week. When the weekend comes, prices are likely to fall until market activity starts the next Monday. Hence, it is best to buy cryptocurrencies on Mondays when the prices are at the lowest.
What is the best time of the month to buy cryptocurrency?
The best time to purchase cryptocurrency is when the prices are relatively low. This could be at the end of every month when traders and investors are selling off their tokens to pay their bills and rent. Usually, the price goes back up again at the beginning of the next month. Generally, you have to wait patiently until prices in the crypto market are at their lowest before you buy tokens.
How to time the cryptocurrency market
Here are some tips to help you time the cryptocurrency market and know when to purchase coins:
- Buy when the market is up.
- Buy cryptos when the market is down.
- Buy when the crypto market is in a recession, but not too below its previous peak.
Lastly, buy when you believe that things have stabilized and will remain stable for some period, or at least stay stable until after you’ve purchased your cryptocurrency and traded it for a profit (or loss).
How do I know the best time to buy cryptocurrency?
Above, we listed how you can time the crypto market. So how do you know when the right time is happening? There are several ways to know.
1. Stable prices over extended periods of time is likely to indicate that there’s less volatility than normal–and hence less risk.
2. Low volatility indicates fewer big price moves up or down. Rather, it tends toward slight fluctuations with just a little difference between them.
3. Small fluctuations in prices can make it much easier to purchase crypto at lower prices while still earning gains later.
When is the best time to buy cryptocurrency?
The best time for you to buy cryptocurrency is when the prices of tokens are low. The second best time is when it’s high. However, you must not forget, if you’re seeking a good investment, you need to also consider purchasing cryptos when there is no latest news about cryptos or other related projects.
For instance, if there is a big crypto seminar coming up with loads of hype and announcements about new tokens and other developments in the crypto space, it wouldn’t be ideal to buy crypto during that period. Generally, events like these tend to push up prices temporarily before they dip again afterwards (or may even crash).
What is the best move with crypto?
This is a traditional investment strategy that has been used since the inception of time. It is best to buy low and sell high. When you see a drop in market prices, it’s your chance to start buying more crypto. This way, you can easily maximize gains when the price moves up again.
How can I buy cryptocurrency?
Bitmama offers a secure and reliable way to buy cryptocurrency in a few steps. Here’s how:
1. Download the Bitmama app for Android or iOS, register and log in.
2. Navigate to the verification page in your ”Account” section. Click on the verification button to submit the necessary documents and verify your account up to level 3.
3. Fund your fiat wallet by clicking on fund on the home dashboard
4. Select “Fund with Bank Transfer” and follow the prompts till completion.
5. Return to your dashboard and select “Buy”.
6. Select your preferred cryptocurrency and fill in the amount you wish to purchase. The cost will automatically be filled out. Note that you need to fill in a sum lower than the balance in your fiat wallet.
7. Click on Buy and follow the prompts till completion.
Buying cryptocurrency is really that simple on the Bitmama app. Here’s a short video on the process when on the app.
So when is the best time to buy crypto? There is no specific answer to this question because the best time to buy primarily depends on the trends in the crypto world. You need to learn to look and make sure the market is favourable before you leap. Ensure that you buy when prices are relatively low and there is hope that the value will increase in the near future. Also, don’t forget to consider your investment goals before you buy. If you are looking towards trading within a short period, then you have to be more strategic and time-sensitive when buying your desired coin.
As the best crypto exchange app in Africa, Bitmama offers a secure marketplace for crypto enthusiasts. Perform activities like crypto exchange, crypto staking, and creating virtual dollar or crypto cards for online payment. Get started today by downloading the Bitmama app.
