Cryptocurrency is considered an unpredictable asset, the value of which is frequently altering. As a result, beginners often attempt to find the ideal time to purchase it. Let's see if this is possible.
When should you buy cryptocurrency?
Ultimately, you must invest in cryptocurrency when you are ready to lose the money. Some traders have achieved significant success on the appropriate trade at the appropriate time, but more often it's due to luck, not market timing. Ideally, you purchase when the market has fallen, but it's difficult to understand when the actual drop has occurred, because it's a transitional stage. In our reality, it's more effective to purchase during temporary reductions of 20-50%. But how can one understand when they will come?
A singular tip that will enhance your probability is to analyse the specific cryptocurrency you intend to purchase. It's vital to follow the market's trends as a whole, but the value of tokens can be altered due to specific reasons (from sexual scandals to Elon Musk's tweets).
Due to the specifics of different tokens, we will discuss cryptocurrencies that are popular in the market: Bitcoin (BTC) and Ethereum (ETH).
At what time should you buy cryptocurrency?
The market is not sleeping, so conducting transactions based on time is not safe. However, studying the numbers below, you can notice a small pattern. Ethereum (ETH) and Bitcoin (BTC) were more advantageous to purchase in the morning (the earlier, the better). These fluctuations may be caused by the different activity levels of the American, Asian and European markets.
The majority of traders are located in Asian primary markets from 2 am to 10 am (Kyiv time). From 9 am to 4 pm, the European market is active, and from 4 pm to midnight, the American market is also active.
However, we again emphasize that trends are likely to evolve and what worked this month may not be effective in the future.
Where to store cryptocurrency after purchase?
If you choose to purchase, then store cryptocurrency safely in order to not lose your cryptocurrency. Kolo is most effective at handling this, as it is a dependable platform for multi-currency cryptocurrencies.
Its benefits:
1) The safety of your funds is guaranteed.
2) If practical, money can be withdrawn in a few clicks, and directly to your card.
3) The wallet can be deposited on as quickly as money can be withdrawn from it.
