Re: Monday Is the Best Day to Buy Bitcoin?

Quote from: KennyR on January 31, 2020, 05:35:45 PM

Quote from: Myfe on January 28, 2020, 08:33:19 PM

I think you got this wrong. If the highest return is on a Monday then you'll buy at the highest price on a Monday. You need to buy on a Wednesday, when the price tends to fall...then you'll lock in the best price and stand a better chance of realizing positive investment gains.

Quote from: Tduty on January 28, 2020, 06:08:08 PM

Maybe it's because Sunday is a holiday in most of the country, so people cash out crypto money on Sunday and that impact on Bitcoin price on Monday, so, when the price is low, that's the buying time without any doubt.

Why would people cash out their bitcoin on a Sunday? Why would it matter that Sunday is a day of rest for most people? I'm not following your logic.

With bitcoin and other cryptocurrencies the trend will change in no time. We can't experience the same pattern of market movements every week. Most of the time we can experience the price to increase at the weekends than during the start of the weeks. This can be understood if we go through and collect data regarding the growth that has happened over the period of time.

In forex markets we can see same price movements on the weekends or any such specific days of the week because of the regulation of the stock markets. Also stock markets are not open 24 hours similar to the cryptocurrency markets which makes understanding stock markets a bit easier as compared to the cryptocurrency markets.

This would be the case as OP said in the stock markets as most of the brokers or stock traders might get back to the charts on Monday after their day-off on Sunday which might derive the price on peak but in terms of cryptocurrency we might not see the same repeated patterns each week because cryptocurrencies have no restrictions on the trade. We can almost trade anytime anywhere so weekends might also not affect the price for any of the cryptocurrency.