Often, the cryptocurrency market is considered complex. Those who have invested in cryptocurrency have done so despite some trepidation. Social media is full of analyses that can be confusing for investors.
In times such as these, researching history can be a good option. This could also apply to Bitcoin (BTC).
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Bitcoin Market Situation
Bitcoin is in a slump compared to the previous growth of its price. The king coin has seen a nearly 5 percent increase in the last 24 hours.
The asset traded at $57,346.03 as of press time. BTC is now 22% lower than its previous high, which was $73,750.07. Investors have seized the opportunity to buy cryptocurrency during this downtrend.
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The Best Time To Buy Bitcoin
Monday is the Optimal Day
The report by the Corporate Finance Institute suggests that the Monday could be the best time to purchase cryptocurrency. The report read,
“Generally, cryptocurrency prices start low on Monday and rise throughout the week. When the weekend hits, prices tend to drop until market activity begins the following Monday. Since prices are likely to be at their lowest point following a weekend of low trading activity, Monday is the best time of the week to buy cryptocurrency.”
Historical Data Analysis
Bitcoin price is rising The average decrease is Weekends and Mondays The previous trading year. Another person said: analysis Historical daily prices The best time to buy cryptocurrency is from Friday until Monday.
When To Sell?
Meanwhile, Tuesdays Wednesdays are the best days for selling Bitcoin And other assets.
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While the data provided is valuable, caution must be exercised when handling cryptocurrency.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru