Bitcoin and cryptocurrency world had an ecstatic end in the year 2017 including record prices. Post this euphoria, many novice investors entered without even making research behind the crypto-currencies revolution. The bubble exploded in 2018 and start in 2019. The bearish market was lengthy and the novice investors had to give up but paid a huge price for their ignorance.
Experts say that when everybody panics in the trade market, you buy. As novice Bitcoin investors did not make efforts to learn about the record price revolution, they took steps back but this was the best time for them to fortify their positions.
The Bitcoin market is returning to its bullish form and will consist to do so. Again, the novice investors who gave up are getting interested but are not aware of the best entry point to buy Bitcoins.
Best phase to purchase Bitcoin
Many cryptocurrency investors have poor financial knowledge. They are self-taught or depend on borrowed knowledge. It is not bad as long as the decision fits. Yale University academics have developed a strategy based on past price movements to predict the current Bitcoin price. It was reported that Bitcoins heavily depend on impetus.
It means, if currently, Bitcoin is doing well, it will possibly do so for the short-term. The study suggests that investors must buy leading digital currency when its price appreciates more than 20% per week.
Which is the best weekly day to purchase cryptocurrency?
The cryptocurrency market remains open 24/7, so investors can sell, buy, trade, and exchange cryptocurrencies anytime with an internet connection. There are no trading sessions but consider some parameters before buying cryptocurrency.
How to decide perfect timing to buy cryptocurrency?
1st Theory – During weekends, Bitcoin demand slows therefore the price moves to be low on Mondays. On Friday and Saturday, the prices are presumed to be high.
2nd Theory – During weekends, investors decide to buy Bitcoins and orders get executed at the start of the week that is Monday. Therefore on Monday volumes are high, so careful behavior is expected across the week.
3rd Theory – seasoned traders avoid buying Bitcoins in the first ten days of the month because workers get their salaries. They usually purchase in the last two weeks of the month. Logic is simple – as people get their salaries they buy Bitcoins driving demand and prices higher.
Which timeframe of the day to purchase BTC?
Morning, afternoon or evening! Unlike stocks and currencies, Bitcoin is not tied to rigid schedules.
For example, stock and currency market gets affected with announcements during specific day times. Cryptocurrency does not respond to any kind of announcements. The only rule to bear in mind is that BTC price escalates rapidly and as it enters a stability period it gradually declines.