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What time of day is it better to trade cryptocurrency?


What time of day is it better to trade cryptocurrency?

The cryptocurrency market is traded 24 hours a day, 7 days a week. Bitxmi experts explained how to choose the time to trade cryptocurrency and why it is important to consider the spikes in trader activity.

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Unlike traditional stock exchanges, the crypto market works without breaks and weekends. This means that trading in digital assets does not stop for a minute. But the dynamics of the market may depend on the time of day, and this should be taken into account when trading.

You need to choose your own time for trading, but the greatest activity of traders is observed in the second half of the day when the USA and China are actively trading, experts add.

Dynamics for beginners

Professional market participants usually choose the time of the greatest dynamics of currencies. But for novice traders, it is better to trade during periods of less volatility, when the market is dominated by one region or there is a general calm.

The European trading session starts from 10.00-11.00 Dubai time, from 17.00-18.00 – the American one, and from 3.00-4.00 am – the Asian one. The largest bursts of activity on the market are observed precisely with the onset of the next trading session. The Asian session is characterized by the fact that the inhabitants of this region can radically expand the market. This can often be seen in the example of the bitcoin rate.

For example, the last Bitcoin record at $ 61.8 thousand, which was recorded on March 13 at 00:00 Dubai time, reflects just such a market reversal. After that, the cryptocurrency began to fall in price and by 20:00 on March 14, its price fell below $ 60 thousand.

Time and liquidity

A trader must learn not only to take into account temporal characteristics but also to observe who enters the market with what volumes of liquidity. Also, you should not enter the market during major changes that usually occur at the very beginning of the trading session in the regions, since the dynamics of trading is not yet clear. It is better to enter in the middle of the trading day when it becomes a little calmer and the market movements are already clear.

Also, BitXmi experts advise not to get attached to the market. There are always good entry points to be found regardless of the time of day.

Weekends and holidays

As the trading statistics show, the rise in the bitcoin rate most often occurs on weekends. A decrease in trading volumes is observed on weekends. The highest activity is usually at night when Asian traders trade. By the morning, the activity and often the rate of the main cryptocurrency decreases slightly.

The last one happened on April 2. From 01.00 to 07.00 Dubai time, the cost of bitcoin increased by 2% (from $ 58.8 thousand to $ 60 thousand). By 10.00 am the rate fell to $ 59.5 thousand and continued to decline.

Separately, experts celebrate holidays such as the Chinese New Year. On such days, quotes usually rise, so it makes sense to buy before them. In 2021, Chinese New Year fell on February 12th. It is noteworthy that two days before the holiday, bitcoin was trading at $ 44.2 thousand, and by February 12 it had grown to $ 48.2 thousand.

Read actual crypto news and crypto forecasts every day on https://news.bitxmi.com/

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

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