When to Buy Bitcoin and How to Do It Safely
Buying cryptocurrencies is a great way to diversify your investment portfolio. However, you need to know when to buy bitcoins and come acquistare bitcoin safely.
Purchasing Bitcoin involves three steps: selecting the best exchange, passing KYC, and funding your account. There are also fees involved, so it’s important to understand these before you make a purchase.
1. Monday and Sunday
According to a study, the best time to buy bitcoin is late Sunday evenings and early Monday mornings. This is because trading volumes and prices drop due to various factors.
This is not to say that there are no other good times to buy or sell. But if you want to be successful, you need to know when to do it.
A recent study analyzed 2 years’ worth of Bitcoin buying and selling data. The researchers found that Mondays had a higher average price than all other days.
This could be a result of large buy orders and sell orders being made invisible to the retail market. These are usually done by OTC desks to prevent front-running.
2. Afternoon
The bitcoin market is highly volatile, so it’s hard to pinpoint the exact moment when it’s best to buy. In general, experts recommend buying during the day and before midnight, when prices are usually lower.
Interestingly, some research shows that buying at night can also be a good option. It’s believed that a large number of traders are in the markets at this time, so it can be a great opportunity to make a profit.
However, it’s important to note that this strategy can be very risky for those who aren’t familiar with crypto trading.
This is why it is so important to have a Bitcoin buying plan. This way you can avoid the usual FOMO and get the best price for your coins. Bitcoin can be bought on the Bybit https://www.bybit.com/en-US/ exchange.
3. After payday
There’s a good reason why cryptocurrencies such as Bitcoin and its predecessors are hot commodities in the mainstream financial world: they can be lucrative investments for those who are willing to take the gamble. The price of Bitcoin soared in 2017 despite a tepid economic outlook and rising interest rates. Getting in on the crypto gold rush can be as simple as setting up an account with a reputable brokerage firm and putting a small percentage of your paycheck into your bitcoin IRA. The best way to ensure you’re on the right track is to read up on the industry as a whole, and learn what’s good and what’s not.
4. Digital payment platforms
Whether you want to buy bitcoin or use it to pay for goods and services, there are many options available. These include e-commerce platforms, payment cards, and mobile apps.
In addition, some major retailers accept crypto payments as well. These include Microsoft, Overstock, and Whole Foods, to name a few.
These stores and businesses will usually display a sign that says “Bitcoin Accepted Here” or have QR codes on the checkout pages that can be scanned by customers who are using mobile devices to pay.
However, before you choose a crypto exchange, make sure it’s registered in your country and offers good security features. Also, check the platform’s customer support. It’s important to find out what the fees are for deposits and withdrawals and how quickly the company responds to customer queries.
5. August
Buying bitcoin on August 31 is a good idea because prices tend to be lower than other times of the week. However, you should remember that price changes can occur throughout the day, so it’s best to get in before it reaches its peak.
According to historical data, BTC has experienced a seasonal summer decline every year since 2010. While some analysts predict a slight price retrace in the coming weeks, others think that it is poised for a long-term bull run.
This is because BTC is about to experience its third monthly bullish MACD cross of all time. The previous two crossed in the back-end of 2016 and late 2017 resulting in the bull run that saw BTC almost hit $20,000.