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 <p class="paragraph">Crypto traders know that many factors affect investing in cryptocurrencies. Timing your Bitcoin (BTC) purchase right can get you more value for the same amount. At the same time, the opposite is true: bad timing can mean that you just wasted a part of your money that you did not have to.</p>
 <p class="paragraph">Today’s article will discuss the worst day you can pick to buy Bitcoin, explain why you should avoid buying crypto coins on this day, and provide other relevant information on how to properly time your Bitcoin investments.</p>
 <h2 class="wp-block-heading" id="h-volatility-of-bitcoin">Volatility of Bitcoin</h2>
 <p class="paragraph">Bitcoin price, like that of all crypto, is notoriously volatile. Compared with stocks and bonds, it can swing wildly and frequently within a short time.</p>
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 <p class="paragraph">The main reason for this is the cryptocurrency’s relatively young age, as it has not yet gained universal acceptance, as well as market demand, trader sentiment, regulation, and the state of the global market.</p>
 <p class="paragraph">Therefore, the patterns of change and price cycles are chaotic, and attempting to time the market is tricky. If you want to deal with BTC, you need to be prepared for these fluctuations.</p>
 <h2 class="wp-block-heading" id="h-which-factors-determine-the-price-of-bitcoin">Which factors determine the price of Bitcoin?</h2>
 <p class="paragraph">Despite the unpredictability of Bitcoin price, there are key factors that can determine the worst possible day to buy BTC. These include:</p>
 <h3 class="wp-block-heading" id="h-price-movement-patterns">Price movement patterns</h3>
 <p class="paragraph">Careful research on how Bitcoin price changes can yield the best and worst times to buy the crypto token. One way to determine this is to perform technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, which studies historical price data for the asset. Alternatively, you can consult chart patterns and trading indicators to forecast future price swings.&nbsp;</p>
 <p class="paragraph">Support and resistance levels are another strategy that can provide you with pressure points on certain price levels. These can tell you the potential times when selling pressure overwhelms buying pressure, which is when you definitely do not want to buy Bitcoin.&nbsp;</p>
 <p class="paragraph">Finally, you can track price trends using moving averages, which are technical indicators that smooth out day-to-day price fluctuations to reveal a possible pattern over a specific period of time. Depending on the time frame, you will want to use different moving averages, which are then used to signal a bearish crossover when you should definitely not buy Bitcoin, as its price will likely go down.</p>
 <h3 class="wp-block-heading" id="h-global-crypto-market-trends">Global crypto market trends</h3>
 <p class="paragraph">You should always consider the wider market sentiment when you decide to buy Bitcoin. Bad news and negative developments in the world of crypto will likely bring down the value of these assets, which can be a good time to buy if you expect the market to rebound. On the other hand, positive news can ripple through the community, raising confidence in the token and driving up the price. It is crucial to stay in the loop regarding Bitcoin, which means following <a rel="noopener noreferrer nofollow" title="Category Press Releases" href="https://thebittimes.com/press-releases.html">Press Releases</a>, news sources, and crypto social media platforms and forums.&nbsp;</p>
 <h3 class="wp-block-heading" id="h-quarter-year-patterns">Quarter-year patterns</h3>
 <p class="paragraph">Some traders claim that Bitcoin displays different price patterns depending on the season or quarter of the year. While historical performance is a fickle and notoriously unreliable indicator, sifting through past data can uncover potential regular movements that can help you determine when to buy and sell crypto.</p>
 <p class="paragraph">For example, some analysts claim that Bitcoin price tends to follow the price of other assets and commodities and peaks during the pre-holiday and holiday seasons, which are November and December. The reasoning is that gift-buying and seasonal shopping sprees increase demand for cryptocurrency, which is then higher than the rest of the year. If this is true, this is a bad time to buy Bitcoin.</p>
 <h3 class="wp-block-heading" id="h-day-of-the-week-effect">Day of the week effect</h3>
 <p class="paragraph">The <strong><em>day-of-the-week effect</em></strong> is an alleged phenomenon in which traders can predict price shift patterns depending on the day of the week. While concrete academic and practical research is very limited on this topic, some studies and experiments have demonstrated that certain days of the week are better for buying BTC than others.</p>
 <p class="paragraph">Some historical data shows that the price of Bitcoin is higher during weekdays than on weekends, which can indicate reduced crypto trading activity and investor fatigue that leads to a decrease in demand. The weekend is a time of less volatility due to lower trading volumes, so less opportunity to get a good deal.&nbsp;</p>
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       <h3 class="font-bold font-serif !my-0 !text-base" id="strong-when-is-the-best-time-to-buy-bitcoin-strong"><strong>When is the best time to buy bitcoin?</strong></h3>
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      From Reddit users doing their own experiments to university bloggers, there is a broad consensus that Bitcoin price tends to be the highest during the early days of the week, specifically on Tuesday. <strong>If this is true, you should not buy Bitcoin on Tuesday. </strong>However, relying on technical indicators and daily research is always better than apocryphal stories online, especially if sufficient and reliable studies do not back them. To compare, check out our research for the best day to buy Bitcoin here.
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 <h2 class="wp-block-heading" id="h-a-factor-to-consider-when-buying-bitcoin-dollar-cost-averaging-dca">A factor to consider when buying Bitcoin – dollar-cost averaging (DCA)</h2>
 <p class="paragraph">Dollar-cost averaging (DCA) is a common investment approach aimed at solving the issue of timing purchases, including Bitcoin. By spreading out trades over regular intervals, DCA annuls the effects of short-term price fluctuations and allows you the opportunity to acquire BTC over time.</p>
 <p class="paragraph">Some advantages that DCA provides include:</p>
 <ul>
  <li>Eliminating the risk of bad market timing;</li>
  <li>Smoother market entry and negation of short-term BTC price instability;</li>
  <li>Potentially lowering the average cost you pay for the same value.</li>
 </ul>
 <figure class="wp-block-table">
  <table>
   <tbody>
    <tr>
     <td></td>
     <td><strong>Dollar-cost averaging</strong></td>
     <td><strong>Lump sum investing</strong></td>
    </tr>
    <tr>
     <td>Investment strategy</td>
     <td>Purchases at regular intervals over time</td>
     <td>A one-time lump sum investment</td>
    </tr>
    <tr>
     <td>Timing consideration</td>
     <td>Timing the market has less effect</td>
     <td>Timing the market is a major factor</td>
    </tr>
    <tr>
     <td>Risk management</td>
     <td>Helps mitigate short-term price fluctuations</td>
     <td>Factors in immediate market conditions</td>
    </tr>
    <tr>
     <td>Psychological impact</td>
     <td>Less effort and stress associated with market timing</td>
     <td>May lead to bad calls if the timing isn’t done right</td>
    </tr>
   </tbody>
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   Table 1: <em>Comparison of dollar-cost averaging vs. lump sum investing</em>
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 <h2 class="wp-block-heading" id="h-the-bottom-line-is-now-a-bad-time-to-buy-bitcoin">The bottom line: Is now a bad time to buy Bitcoin?</h2>
 <p class="paragraph">Many factors determine the day you should NOT buy Bitcoin, as the market is highly complex and volatile. You should factor in market trends, repeated price movements, quarter-year patterns, and the day-of-the-week effect. However, if you tend to trust the rumors, just skip Tuesdays.</p>
 <p class="paragraph">Jokes aside, always do your research and keep informed about the global trends in order to find out the best and worst possible days to purchase Bitcoin. You will have much more confidence in your decisions, and, ultimately, your crypto investing results will be better if you ground your strategy on solid foundations.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/don-t-buy-bitcoin-on-this-day-tbt83234.html">https://thebittimes.com/don-t-buy-bitcoin-on-this-day-tbt83234.html</a></p>

Don’t buy Bitcoin on this day!

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