In general, it's best to buy Bitcoin in the afternoon, as prices tend to drop. Cryptocurrencies such as Bitcoin can experience daily (or even hourly) price volatility. As with any type of investment, volatility can lead to uncertainty, fear of missing out or fear of participating. When prices fluctuate, how do you know when to buy? Based on the same data used to determine the best time of day to buy crypto, the best time of the week to buy crypto seems to be Thursday.
In six of the eight weeks there was a decline that day. If that trend continues (which is certainly not guaranteed), Thursday morning is the best time to buy. Cryptocurrencies are not going away. Leaving your money on the cryptocurrency market for months or years can offer you the best rewards.
That's why it's important to invest only what you're willing to lose and stick to more conventional investments for long-term wealth creation. Much of this is because cryptocurrencies have become widespread and are being treated as just another speculative investment by buyers and traders. DCA can be an effective way to own cryptocurrencies without the notoriously difficult job of timing the market or the risk of unintentionally using all your funds to invest “a lump sum at a peak.” Trading robots may be useful in some circumstances, but they are not recommended for beginners looking for cryptocurrency investment tips. In general, the more accessible cryptocurrency assets are within traditional investment products, the more Americans could buy and influence the cryptocurrency market.
Instead of learning how to navigate a cryptocurrency exchange to trade your digital assets, you can add cryptocurrencies to your portfolio directly from the same brokerage that you already have a retirement account or other traditional investment account with. Given the old investment adage “buy the fall”, investors may now be looking for a slice of the volatile cryptocurrency market in the hope that this will mark a temporary recession rather than a long-term bear market. It will still be volatile, but it might be easier to sell your investment and get your money back than to invest directly. For someone who intends to schedule a cryptocurrency purchase, it will be worthwhile to really analyze the history of specific types of investment.
This volatility is a big part of the reason why experts recommend keeping your cryptocurrency investments at less than 5% of your portfolio to begin with. There are also some funds and investment funds that are exposed to cryptocurrencies, which is a less risky way to invest than buying the coins themselves.