What is the best time to trade cryptocurrency in india

“Sometimes, my monthly

Gupta, who largely trades in

With cryptocurrencies such as Bitcoin, Ethereum, Doge, Shiba Inu and Solana touching all-time highs, the number of traders has also grown exponentially, said market watchers.

In all, there are about 105 million Indians who hold crypto assets, and the number of traders is a little over 1 million, according to exchanges.

“We have a daily trader base of over 80,000 Indian high-frequency traders, which used to be around 20,000-25,000 during the bull run of 2017-2018. Day traders generally tend to lean towards high-volatility assets, along with new and upcoming projects with wild movements that they try to capitalise on,” said Shivam Thakral, CEO, BuyUcoin, a cryptocurrency exchange.

Cryptocurrency exchange CoinSwitch Kuber said the average monthly trade volume has zoomed as trading grows.
crypto

Most Started Investing During Lockdown
Another exchange, Wazir X, boasts 10 million users. It saw overall volume touch $36 billion in 2021.

“WazirX has witnessed an average 44% growth month on month in terms of volume, while the new signups have increased 10 times,” a spokesperson said.

Most Indians started investing in cryptocurrencies during the lockdown, when companies moved to working from home, drawn by good returns despite inherent volatility and influenced by the high-voltage advertisement campaigns run by the well-funded crypto exchanges.

As companies started asking employees to return to offices, the traders moved to trading after office hours. Most cryptocurrency exchanges in India allow traders to trade all day, even on weekends. This is what seems to be attracting young investors, said industry trackers. Most global traders prefer to stick to Bitcoin, they said.

“At OKEx, the BTC balance (number of Bitcoins) is at an all-time high as of November 5 2021, second highest against CoinBase Pro,” said Lennix Lai, director of financial markets at the cryptocurrency platform.

Many Indian traders, however, have also started experimenting with new cryptocurrencies, including meme coins.

Indian investment in cryptocurrencies hit the $10 billion mark, ET first reported on November 1.

Mumbai: At 7 pm every day, techie Anish Gupta shuts his company laptop and fires up his personal one. The 27-year-old coder turns into a crypto trader, exploiting opportunities late into the night in the highly volatile market.”Sometimes, my monthly income from day trading is more than my salary,” said Gupta, who works for an IT outsourcing firm in Gurgaon.Gupta, who largely trades in Bitcoin Ethereum and Tron, is among a growing tribe of small investors who have taken to crypto to make quick monetary gains and supplement their incomes.With cryptocurrencies such as Bitcoin, Ethereum, Doge, Shiba Inu and Solana touching all-time highs, the number of traders has also grown exponentially, said market watchers.Top exchanges have recorded a 200-500% jump in the number of day traders who make money merely by taking positions in various crypto assets.In all, there are about 105 million Indians who hold crypto assets, and the number of traders is a little over 1 million, according to exchanges.”We have a daily trader base of over 80,000 Indian high-frequency traders, which used to be around 20,000-25,000 during the bull run of 2017-2018. Day traders generally tend to lean towards high-volatility assets, along with new and upcoming projects with wild movements that they try to capitalise on,” said Shivam Thakral, CEO, BuyUcoin, a cryptocurrency exchange.Cryptocurrency exchange CoinSwitch Kuber said the average monthly trade volume has zoomed as trading grows.Another exchange, Wazir X, boasts 10 million users. It saw overall volume touch $36 billion in 2021.”WazirX has witnessed an average 44% growth month on month in terms of volume, while the new signups have increased 10 times,” a spokesperson said.Most Indians started investing in cryptocurrencies during the lockdown, when companies moved to working from home, drawn by good returns despite inherent volatility and influenced by the high-voltage advertisement campaigns run by the well-funded crypto exchanges.As companies started asking employees to return to offices, the traders moved to trading after office hours. Most cryptocurrency exchanges in India allow traders to trade all day, even on weekends. This is what seems to be attracting young investors, said industry trackers. Most global traders prefer to stick to Bitcoin, they said.”At OKEx, the BTC balance (number of Bitcoins) is at an all-time high as of November 5 2021, second highest against CoinBase Pro,” said Lennix Lai, director of financial markets at the cryptocurrency platform.Many Indian traders, however, have also started experimenting with new cryptocurrencies, including meme coins.Indian investment in cryptocurrencies hit the $10 billion mark, ET first reported on November 1.

Cryptocurrency is a volatile asset class that experiences a lot of ups and downs. People often get the idea that they should try to time their investments by purchasing within specific windows to get the best possible price. However, because cryptocurrency is traded 24 hours a day by investors around the world, timing a cryptocurrency buy is never cut and dried.

If you want to invest in crypto, your best bet is to practice dollar-cost averaging, or buying a little bit at a time over an extended period. Even if you invest at intervals that turn out to be not all that low, you will catch others that are very low, and things may average out.

There are ebbs and flows to the crypto market that vary wildly depending on the specific cryptocurrency you’re buying. Tokens may trade with yet another pattern. For someone intent on timing a crypto purchase, it will pay to really analyze the history of specific investment types.

A person sits in front of two computers with crypto exchange charts on them.

Image source: Getty Images.

When is the best time to buy cryptocurrency?

To make it short and sweet, the best time to buy a cryptocurrency is when you’re ready to buy a cryptocurrency. Using the dollar-cost averaging approach, you’ll be able to control the volatility of your investment (at least to some degree) and avoid the roller coaster ride.

Never put more into a crypto than you’re willing to lose. They are not guaranteed winners or asset classes that provide any sort of security, especially if they tank. Some people have made significant amounts of money on the right buy at the right time, but it’s often more about luck than astutely timing the market.

Best time of the day to buy cryptocurrency

Because crypto trades all day long, even into the wee hours of the morning (no matter where you happen to live), timing your trades to a certain time of day can be fraught. However, if you analyze a few months of data, a few very general patterns emerge.

Bitcoin (CRYPTO:BTC), Ether (CRYPTO:ETH), Binance (CRYPTO:BNB), Solana (CRYPTO:SOL), and Cardano (CRYPTO:ADA) trading activity tends to rise and fall at roughly the same time, which is handy for the sake of comparing windows to buy the cryptos with the highest market capitalizations.

Looking at data in the 90 days prior to Sept. 7, 2022, the very best time of day to purchase these popular cryptocurrencies in the United States generally was in the afternoon. Other coins not considered to be as “serious” also followed similar patterns as Bitcoin and Ether, such as Shiba Inu (CRYPTO:SHIB) and Dogecoin (CRYPTO:DOGE).

Best time of the week to buy cryptocurrency

Based on the same data used to determine the best time of day to buy crypto, the best day of the week to buy crypto seems to be Tuesday, followed closely by Thursday and Saturday.

However, the 2022 crypto winter has been causing steep and random drops in prices that don’t seem to be connected to much other than fears of the market dropping even further, so there are plenty of deviations from this pattern.

Best time of the month to buy cryptocurrency

With crypto, everything is constantly changing, which is a problem if you’re trying to time purchases. For the moment, however, the best time of the month to buy is typically near the end of the month. Values tend to rise in the first 10 days, followed by a price collapse (probably because people are selling after increases) during the second half of the month.

Again, this may vary with some cryptos or smaller altcoins. Based on the coins with the highest capitalization rates, however, the trend seems to be fairly consistent.

3MosSeptember2022CryptoValues

Source: YCharts.

Related investing topics

What is the best move with crypto?

Timing a cryptocurrency buy can be difficult if not treacherous since there are so many elements that go into the price of a coin. Although there are fewer personality-based drivers (such as sex scandals involving CEOs of major companies, for example), there are more lemming-like sell-offs. People have only so much tolerance for risk, and the fear of missing out on selling a crypto holding for a short-term profit is a tempting siren song.

With crypto, as with any kind of investment, your best bet will always be to hold on for the longer term and buy a little bit at a time. Your highest returns will come from this strategy, even though it’s not particularly sexy and doesn’t provide any of that Vegas-like thrill for investors hoping for a quick winner.

Kristi Waterworth has positions in Bitcoin, Ethereum, Shiba Inu, and Solana. The Motley Fool has positions in and recommends Bitcoin, Ethereum, and Solana. The Motley Fool has a disclosure policy

Unlike trading stocks and commodities, the cryptocurrency market isn’t traded on a regulated exchange. Rather, the bitcoin market and every other cryptocurrency market is open 24/7 across a growing number of exchanges.

Successful crypto traders understand that, although the market for digital currency is open nonstop, more trades are successful if transacted when global market activity is high. Outside the hours of these global markets, trading can be light, potentially resulting in weaker exchange rates and difficulty in selling your coins. Our time converter displays open and close times for global markets in your local time zone so that you can gauge when volume might be highest to make exchanging cryptocurrencies easier.

Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.

Market time converter

Your local time is

Crypto markets
sponsored by

Global marketLocal timeCurrent statusNew York (US)Sydney (Australia)London (UK)Frankfurt (Germany)Seoul (South Korea)Tokyo (Japan)Hong Kong (China)

A market’s peak trading hours is typically 8 a.m. to 4 p.m. in its local time. These are the trading hours that usually drive the highest trade volume in each region. Although a market can be “closed,” there might be huge movements in the global market depending on news and speculations.

Why is the converter useful if the crypto trading market is open 24/7?

Crypto trade volume dips and soars as people trade within huge global markets. These global markets come with firm trading hours, which can be helpful if you’re analyzing a specific digital currency against price predictions.

Add to this that global markets react differently to the news. For instance, business headlines that might prompt a quick reaction from Americans — affecting the price of a specific coin — might not make as many waves in, say, the South Korean market. If you decide you’re game for the notorious volatility of cryptocurrency, use our market time converter to translate open and close hours for markets around the world into your own time zone.

Compare and start trading cryptocurrency now

Find an exchange to buy, sell and trade cryptocurrencies by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators’ websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Written by Jane