Topic: Monday Is the Best Day to Buy Bitcoin? (Read 1184 times)
Correct me if i'm wrong but this statistics based on traditional stocks markets event called weekend effects which is usually stocks traders will evaluate their trading profit in friday and they will starting again since monday after weekend but in my view this statistics cannot be implement on cryptocurrency market because unlike stocks market which there is time off on weekend but crypto market always alive world wide for 24/7
I do manual check up and noticed that there is no significant day for the prices that depend solely on date. But time surely will affect this, as some of the traders arent online where some of the traders are active. Imagine if some of those active traders are sleeping on the time you are active you wont see any much difference as volume is stable. I noticed it when I'm using Binance platform. Anyway I got the point why OP introduced this as somehow related to my idea but explained in different way.
indeed no one can provide a guarantee when the right time to buy bitcoin because the price of bitcoin cannot be predicted but to be clearer the very right time to buy bitcoin is when the price of bitcoin falls, you can buy it and after that you can sell bitcoin when the price has risen to become expensive, don't let you overturn because when you buy at high prices it will only make you stuck in bitcoin.while for an exchange that can be used to buy bitcoin I think you can buy bitcoin at an exchange that has an influence on bitcoin price movements, for bination exchange places I think it's enough but maybe you can try it at another exchange that has a good reputation .
I do manual check up and noticed that there is no significant day for the prices that depend solely on date. But time surely will affect this, as some of the traders arent online where some of the traders are active. Imagine if some of those active traders are sleeping on the time you are active you wont see any much difference as volume is stable. I noticed it when I'm using Binance platform. Anyway I got the point why OP introduced this as somehow related to my idea but explained in different way.
I don't believe that monday is the best day to buy bitcoin because, bitcoin's price could change anytime in the morning or evening. Prediction for when it is more profitable to buy Bitcoin can't be fixed in a specific day. I see no relation between the day it is better to buy Bitcoin and the Bitcoin market itself, we cannot really tell when it is good to buy Bitcoin because, if it is true we are all already rich.
These are just superstitions views that the bitcoin price will be better on Monday's. If it were true, would everyone would be buying on Monday's and selling the rest of week.
The thing to note is that every day when the market starts, there is some volatilely in the market. The same can be experienced when the market closes but this is more for forex trading and bitcoin doesn't follow the same pattern.
Monday is the best day for you to buy your bitcoin? 
What are your thoughts about this?
What are your thoughts about this?
Not necessary. Monday is the start of the week and you will see some quick buying but that does not mean that the rest of the week is not good for buying. Actually, bitcoin does not depend on any week day and more importantly follow the trends or whales manipulation.
I do buy whenever the market falls as you get a good price and also another thing people do panic selling which helps as price further falls and this is a sort of opportunity which many big investors await and grab it. Thus generally if you see later on in some days market may rise back again and you can gain it and can sell some and book profits or if long term investors can hold it and continue buying whenever their is a little dip irrespective whichever day it may be .
That's actually thoughtful of you, I never took time to observe that. Normally even in banks, transaction tends to be higher on Monday and Fridays because money made over the weekend are deposited on Monday while those who had made budgets for the week will withdraw to meet up and on Friday people withdraw money to take care of bills over the weekend while some save on Friday to a Avoid accumulating money in hand over the weekend. Now, note- that graph may be a coincidence. Until we ascertain the analysis confirmed.
Buy on Wednesday, sell on Monday. Not bad, I understand your opinion with this. But if I were the one to be asked, based on my experiences, these things really are a coincidence. I can tell that the next week, the frequency on the charts will change. I also tried analyzing the charts and searched for the best days to buy low as it is the only thing the really matters. I made minutes, hours, days and even weeks of analysis and experiments so that I could try to profit. I ended up having my assets in a loss.
The only thing I notice that is probably accurate is that the volatility of the Bitcoin is mostly on the weekends. Maybe because people could focus on their monitors on weekends. I found an interesting online article that explained, When is the Best Time Of Day To Buy Cryptocurrency?
The only thing I notice that is probably accurate is that the volatility of the Bitcoin is mostly on the weekends. Maybe because people could focus on their monitors on weekends. I found an interesting online article that explained, When is the Best Time Of Day To Buy Cryptocurrency?
The study posted earlier only goes back to April 2013. A more comprehensive study of seasonality in bitcoin can be found here with data from August 2010 to present: https://medium.com/interdax/seasonality-in-bitcoin-examining-almost-a-decade-of-price-data-abf47b1421cb?source=friends_link&sk=f8bb18af9f42a53491a65eafcee78108
From the findings, the largest gains are usually on Saturdays. The article also looks at volatility and candle body ratios to show the days/hours that are more volatile or more frequently display trending candles.
From the findings, the largest gains are usually on Saturdays. The article also looks at volatility and candle body ratios to show the days/hours that are more volatile or more frequently display trending candles.
I'd never track Bitcoin price daily and maybe the reason why I'd never notice that Monday is the best spot to buy Bitcoin. Maybe it can be right or wrong. Because every time I check on the market, I will always look into the price, not the day. And for me, it doesn't matter what day it belongs as long as the market price is low and I am comfortably buying it, I'll make it.
Anyway, it maybe has noticed it and maybe the others also...making that way to check how that Monday consistently showing a dump scenario or it is just the moment when OP check it while the market is low.
Anyway, it maybe has noticed it and maybe the others also...making that way to check how that Monday consistently showing a dump scenario or it is just the moment when OP check it while the market is low.
Don't know about the Mondays. The guys who wrote that piece looked at some market data for sure, but until you actually buy bitcoin, you don't know the price you're getting and at what volume. Anyone who's tried to buy other than from an exchange (where there's a bad price anyway) knows this.
Also, their calculations look at 1% or so profits on some days but add in spreads, fees, etc and you're needing to trade more than 2% to turn profits.
Timing's a fantasy, really.
Timing is indeed crucial and i agree to the point of that 2% would be needed to cover up some factors that affects profitability.Also, their calculations look at 1% or so profits on some days but add in spreads, fees, etc and you're needing to trade more than 2% to turn profits.
Timing's a fantasy, really.
I dont also believe on Mondays yet i highly believe that each day of the week would be possibly a sweet spot for you to buy Btc.
Well, we do have our own patterns and beliefs on when to buy but this one wont really be that a serious thing.
Don't know about the Mondays. The guys who wrote that piece looked at some market data for sure, but until you actually buy bitcoin, you don't know the price you're getting and at what volume. Anyone who's tried to buy other than from an exchange (where there's a bad price anyway) knows this.
Also, their calculations look at 1% or so profits on some days but add in spreads, fees, etc and you're needing to trade more than 2% to turn profits.
Timing's a fantasy, really.
Also, their calculations look at 1% or so profits on some days but add in spreads, fees, etc and you're needing to trade more than 2% to turn profits.
Timing's a fantasy, really.
I don't believe that monday is the best day to buy bitcoin because, bitcoin's price could change anytime in the morning or evening. Prediction for when it is more profitable to buy Bitcoin can't be fixed in a specific day. I see no relation between the day it is better to buy Bitcoin and the Bitcoin market itself, we cannot really tell when it is good to buy Bitcoin because, if it is true we are all already rich.
Monday is the best day for you to buy your bitcoin?
What are your thoughts about this?
What are your thoughts about this?
Not necessary. Monday is the start of the week and you will see some quick buying but that does not mean that the rest of the week is not good for buying. Actually, bitcoin does not depend on any week day and more importantly follow the trends or whales manipulation.
It is easy to assume these things but in reality we really can't talk about when is the best day to buy since there are so many movements in bitcoin that happens to hit on the weird days that we least expect.
Now, if we are talking about a regular week that nothing special happens and the price is always around the same, the best day to buy is certainly either early Saturday or even late Friday (exception could be made for very very early Monday), because in reality people do cash out before going to weekend and spend that money if they want to, or basically want that money on their bank accounts, many banks don't work on weekends so they have to withdraw on Friday at the latest, buying at late Friday or early Saturday means you will get it cheap and selling on Tuesday or Wednesday would mean selling at top. This only works on boring weeks tho.
Now, if we are talking about a regular week that nothing special happens and the price is always around the same, the best day to buy is certainly either early Saturday or even late Friday (exception could be made for very very early Monday), because in reality people do cash out before going to weekend and spend that money if they want to, or basically want that money on their bank accounts, many banks don't work on weekends so they have to withdraw on Friday at the latest, buying at late Friday or early Saturday means you will get it cheap and selling on Tuesday or Wednesday would mean selling at top. This only works on boring weeks tho.
Most of the people plan vacations or take a break on Saturday and Sunday which makes them spend their time with their family. This would lead to minimum volume on the weekends and hence on Monday when most of the people get back to work, they continue buying coins for short or midterm trading which keeps Monday on the peak of the graphs you mentioned above.
Monday is a working day after 2 days of holidays and many people might find benefits in trading from Saturday to Monday. This might be their interval for short or midterm trading as selling on Saturday when the price dumps and buying back on Monday once the price gets back to normal.
Monday is a working day after 2 days of holidays and many people might find benefits in trading from Saturday to Monday. This might be their interval for short or midterm trading as selling on Saturday when the price dumps and buying back on Monday once the price gets back to normal.
I think you got this wrong. If the highest return is on a Monday then you'll buy at the highest price on a Monday. You need to buy on a Wednesday, when the price tends to fall...then you'll lock in the best price and stand a better chance of realizing positive investment gains.
Why would people cash out their bitcoin on a Sunday? Why would it matter that Sunday is a day of rest for most people? I'm not following your logic.
With bitcoin and other cryptocurrencies the trend will change in no time. We can't experience the same pattern of market movements every week. Most of the time we can experience the price to increase at the weekends than during the start of the weeks. This can be understood if we go through and collect data regarding the growth that has happened over the period of time.Maybe it's because Sunday is a holiday in most of the country, so people cash out crypto money on Sunday and that impact on Bitcoin price on Monday, so, when the price is low, that's the buying time without any doubt.
Why would people cash out their bitcoin on a Sunday? Why would it matter that Sunday is a day of rest for most people? I'm not following your logic.
This would be the case as OP said in the stock markets as most of the brokers or stock traders might get back to the charts on Monday after their day-off on Sunday which might derive the price on peak but in terms of cryptocurrency we might not see the same repeated patterns each week because cryptocurrencies have no restrictions on the trade. We can almost trade anytime anywhere so weekends might also not affect the price for any of the cryptocurrency.
I think you got this wrong. If the highest return is on a Monday then you'll buy at the highest price on a Monday. You need to buy on a Wednesday, when the price tends to fall...then you'll lock in the best price and stand a better chance of realizing positive investment gains.
Why would people cash out their bitcoin on a Sunday? Why would it matter that Sunday is a day of rest for most people? I'm not following your logic.
With bitcoin and other cryptocurrencies the trend will change in no time. We can't experience the same pattern of market movements every week. Most of the time we can experience the price to increase at the weekends than during the start of the weeks. This can be understood if we go through and collect data regarding the growth that has happened over the period of time.Maybe it's because Sunday is a holiday in most of the country, so people cash out crypto money on Sunday and that impact on Bitcoin price on Monday, so, when the price is low, that's the buying time without any doubt.
Why would people cash out their bitcoin on a Sunday? Why would it matter that Sunday is a day of rest for most people? I'm not following your logic.
I think you got this wrong. If the highest return is on a Monday then you'll buy at the highest price on a Monday. You need to buy on a Wednesday, when the price tends to fall...then you'll lock in the best price and stand a better chance of realizing positive investment gains.
Why would people cash out their bitcoin on a Sunday? Why would it matter that Sunday is a day of rest for most people? I'm not following your logic.
With bitcoin and other cryptocurrencies the trend will change in no time. We can't experience the same pattern of market movements every week. Most of the time we can experience the price to increase at the weekends than during the start of the weeks. This can be understood if we go through and collect data regarding the growth that has happened over the period of time. Maybe it's because Sunday is a holiday in most of the country, so people cash out crypto money on Sunday and that impact on Bitcoin price on Monday, so, when the price is low, that's the buying time without any doubt.
Why would people cash out their bitcoin on a Sunday? Why would it matter that Sunday is a day of rest for most people? I'm not following your logic.
I highly doubt that this is just a coincidence that there are many buyers on Monday, I surely bought my Bitcoin in every day I can and had a spare amount of money but I can come out profitable with it, I really think that it is because it is Bitcoin that is why it still becomes profitable, and Monday is sure an elaborate day maybe whales are buying more that is why it tends to have a much more mass than other days of the week, there are no such reports of expect holders, Analysers, and investors that Monday is such a great day in buying Bitcoin but I just think all of it is just coincidence.
I think you got this wrong. If the highest return is on a Monday then you'll buy at the highest price on a Monday. You need to buy on a Wednesday, when the price tends to fall...then you'll lock in the best price and stand a better chance of realizing positive investment gains.
Why would people cash out their bitcoin on a Sunday? Why would it matter that Sunday is a day of rest for most people? I'm not following your logic.
Maybe it's because Sunday is a holiday in most of the country, so people cash out crypto money on Sunday and that impact on Bitcoin price on Monday, so, when the price is low, that's the buying time without any doubt.
Why would people cash out their bitcoin on a Sunday? Why would it matter that Sunday is a day of rest for most people? I'm not following your logic.
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