Cryptocurrency is an unstable asset, value of which is constantly changing.
Thus, beginners often try to find the ideal time for buying it. Let's see if this is possible.
When should you buy cryptocurrency?
In short, you should invest in cryptocurrency when you are ready to lose the money. There are traders who have made a great amount on the right trade at the right time, but more often it is because of luck, not market timing. Ideally, you buy when the market has fallen, but it is difficult to understand when the moment of a complete fall has come, as it can only be a transitional stage. In our reality, it is better to buy during temporary corrections of 20 - 50%. But how to understand when they will come?
A universal tip that will increase your chances is to analyze the specific cryptocurrency you are going to buy. It is important to follow market trends as a whole, but the value of tokens can change due to specific reasons (from sex scandals to Elon Musk's tweets).
Due to the specifics of different tokens, we will further analyze cryptocurrencies with a high market capitalization: Bitcoin (BTC) and Ethereum (ETH).
At what time should you buy cryptocurrency?
The market does not sleep, so conducting deals based only on time is not safe. But, analyzing the statistics for the last month, you can find a small regularity. Ethereum (ETH) and Bitcoin (BTC) were more profitable to buy in the morning and the earlier the better. Such fluctuations may be related to the difference in the activity of the American, Asian and European markets.
The main masses of traders work in the Asian regions from 2 a.m. to 10 a.m. Kyiv time. From 9 a.m. to 4 p.m., the European market wakes up, and from 4 p.m. until midnight, the American market does.
But we emphasize once again that trends can constantly change and what worked this month may not work at all in the future.
Where to store cryptocurrency after purchase?
If you decide on buying, then store cryptocurrency properly in order to not to lose your assets. Any.Cash works best for that as it is a reliable multi-currency cryptowallet in Telegram.
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Its advantages:
1) Guaranteed safety of your funds;
2) If necessary, money can be withdrawn in just a few clicks, and straight to your card;
3) The wallet can be deposited on as quickly as money can be withdrawn from it;
4) You can exchange funds between other Telegram users with a 0% fee.
You can create a wallet using the link.
