Monday Is the Best Day to Buy Bitcoin?

[Reid]

When I was trading (a lot) before I do this kind of analysis.
Looking at days of where bitcoin bounce up and down.

Yeah, it might be right. If you did the right research go deep into making such daily monitoring then you can use it as a point of buying and selling.
If I remember correctly it was Saturdays and Sunday when bitcoin price goes up.
Monday could really be the selling point. Some of them needs to go back to their work and don't want their coins hanging in orders.

[gabbie2010]

In forex trading Monday is usually not traders choice of trading being a starting day of the week market trading thus traders take cautions so as to know analyse the direction of the market meanwhile cryptocurrencies trading is 24/7 I wouldn't subcribe to the idea that its only Mondays as revealed by the charting analysis as most appropriate day to buy bitcoin.

[alexsandria]

I don't believe in such things, come man maybe it was just a coincidence that the marks had happened always on Monday. For me the best day to buy bitcoin is when you see it on sale and you have the money to buy at your fullest.

We would not know unless we take a look for at least a month? Chart sometimes could be deceiving but we have at least to take a look with ourselves. Besides, if this might be just a coincidence then these coincidences were good as we could take more profit by just buying every monday, and then sell in the following days that will arrive as long as the market gone higher.

[Wysi]

Worth reading but still I would prefer to buy and sell based on live market situation as whatever happens in bitcoin remains as history which doesn't often repeat, If we would have had bull run every December and dump every January then I could go by this chart since we cannot guarantee that an identical day in the world of crypto I would suggest to go with instinct and market situation instead of set algorithms.

[tbterryboy]

Maybe you are right as I have observed bitcoin prices are trading high for the week on Sundays during 2016 and 2017. Yes, I had used that peak for paying my partners/affiliates with comparatively less BTC. To buy bitcoins, we need cheaper price levels, it means you are denoting bitcoin prices are testing low on Monday? Let me observe it on my own then I will try to exploit it in possible means for my benefits.

Market directions are decided my sentiment of individual traders like when most people decide the same thing then that will be the trend of markets. I mean due to this discussion people may start selling bitcoins by Friday/Saturday/Sunday so that they may buy cheaper on Monday; who knows?

[slaman29]

Looks like I'm the bad idiot for never paying attention to which day of the week is important to buy Bitcoin;)

I think if you stop trying to make 1% more and save 1% on price, you'll be fine. OK great, so if everyone buys only on Monday this year, then wouldn't price stop being so good on Monday? People forget, for price to go up, it needs demand. I think it's safer to just get in as regularly as possible. Let everything else take care of itself.

[Bezobraznike]

   That doesn't sound bad at all! Buy Bitcoin on Monday before you spent everything you have for that week, first Bitcoin than everything else.
Friday should be a good day for buying Bitcoin too, before the weekend!
   This is some fun probably. My salary is on a month basis, after 1th I receive it, and when I take care of everything with part that is left I buy
Bitcoins. I never thought about which day of the week it is!

[plvbob0070]

I already answer it in our local board which for me, there is no exact day for buying bitcoin and just go with the flow like if you see the price is going to down, it's the time to buy, and if you see the price is going up maybe its the time to sell. It's hard to monitor the movement of bitcoin that's why we should be aware all the time and maybe if you see the opportunity to buy, you should grab it and never waste that chances to earn.

[passwordnow]

This is actually a pretty good catch and many don't know this kind of analysis and observation that you have. But AFAIK, this is only for trading stocks and I thought that it's only for that but little did I know that it's also applicable for bitcoin. For those that don't want to believe, you can try an experiment regarding the claim. I can't also believe but I'm open with this kind of observation.

[piebeyb]

according to my analysis the market for 1W usually starts around 7 a.m. time around monday, that's where prices will be set for 1 week, so it's not always good Monday to buy sometimes on monday it can be an uptrend sometimes also down, so not forever Monday is good to buy, I assume Monday is the time where the 1W weekly analysis starts there at 7am, when the charts lead to the downtrend will last several days and vice versa, all traders can start trading on any day.

[killerfrost]

I also agree with this prediction, usually the price of bitcoin will fluctuate a lot at the weekend and the beginning of the week. But it's not really accurate because it doesn't always happen. Sometimes prices can rise on the first day of the week when the market is bad for the previous few days and vice versa. We can use this opportunity to be able to buy low and sell high in the short term without holding for too long

[jhonjhon]

Nah, I don't believe such day time to buy Bitcoin because as long as I am convenient to buy due to various reasons I will buy no matter what day or time it is. There's no definitive day when will the price starts to dump or pump that's why buy at your own risk and that's how you will manage your risk of investment. A simple buy low and sell high will prove it all.

That's right, I don't believe it either because the price can go down in any days from Monday to Sundays, the chart that we are looking now that shows Mondays is just a coincidence because if it's not then it would be that easy to trade. The price can be affected by many factors and the price changes anytime with no specific day or what.

[crwth]

The thought about having a day just for buying Bitcoin is quite outrageous, knowing that it is a coincidence. Maybe people have a good time at the start of the week (depending on the place that you are) You could check this website for reference on how it differs in the start of the week in different countries.  [1]. The majority is still Monday, and somehow, it could explain how much it could have an effect on the chart given, knowing that Bitcoin is global.

Maybe there could be a saying where

Start buying Bitcoin at the start of the week, don't ask, buy

Probably along those lines. We could see the trend as well on the second graph.

• Buy at the start of the week
• Never in the middle of the week

Thanks for the information as well.


[1] - http://chartsbin.com/view/41671

[Yaunfitda]

Looks like I'm the bad idiot for never paying attention to which day of the week is important to buy Bitcoin;)

You're not alone mate, this got me thinking as well, as I never jot them the day when I usually buy BTC.

I think if you stop trying to make 1% more and save 1% on price, you'll be fine. OK great, so if everyone buys only on Monday this year, then wouldn't price stop being so good on Monday? People forget, for price to go up, it needs demand. I think it's safer to just get in as regularly as possible. Let everything else take care of itself.

Exactly, and as long as you know what you are doing, you will be fine I guess. There is also the dollar cost average, which can really help newbie investors on how to take care or at least have a good investment plan.

[Landak]

if playing forex, it's true every Monday it's a good day to buy because the market opens every Monday and closes on Friday.
different with bitcoin do not know such terms, sometimes there are times where on Sunday bitcoin rises high, it is difficult to determine a day to buy bitcoin.

[Twinkledoe]

if playing forex, it's true every Monday it's a good day to buy because the market opens every Monday and closes on Friday.
different with bitcoin do not know such terms, sometimes there are times where on Sunday bitcoin rises high, it is difficult to determine a day to buy bitcoin.

And to add the fact that crypto trading happens 24/7 as users can do their trading at the comfort of their home. It is a bit different story when it comes to cryptocurrencies especially if there is some happenings going on, an unexpected turn of events and so it can happen anytime anyday.

[pikkie]

if playing forex, it's true every Monday it's a good day to buy because the market opens every Monday and closes on Friday.
different with bitcoin do not know such terms, sometimes there are times where on Sunday bitcoin rises high, it is difficult to determine a day to buy bitcoin.

even though you are trading on forex it should not have an effect on the price of bitcoin because the bitcoin platform with forex is very different, nobody knows when the right time to buy coins because all price movements depend on good news circulating and will have an influence on price movements bitcoin.

[sheenshane]

There are different theories of the best in buying Bitcoin, there are others say that usually the average bitcoin price lowest on Sunday but the nearest day also is Monday. Probably these days are the cheapest day but it depends on the market situations, you cant rely upon those theories. Even in monthly theories, others believed that bitcoin price will go up in the middle of the month because of high demand and it will down again on the last day end of the month.

Always remember this that always buy the dipping price and never sell, just hold bitcoin a valuable asset. IMO, any time is a perfect time to buy bitcoin as long as you can afford it.

[bassbity]

Buying bitcoin on monday or any day is good too but we have to look at technical analysis too I know that bitcoin has a bitcoin movement going forward.
Long-term investment in bitcoin is very good and minimal risk for me because Bitcoin has an increase and halving will be a mainstay for holders to get profits.

[wildan88]

Nah, I don't believe such day time to buy Bitcoin because as long as I am convenient to buy due to various reasons I will buy no matter what day or time it is. There's no definitive day when will the price starts to dump or pump that's why buy at your own risk and that's how you will manage your risk of investment. A simple buy low and sell high will prove it all.

That's right, I don't believe it either because the price can go down in any days from Monday to Sundays, the chart that we are looking now that shows Mondays is just a coincidence because if it's not then it would be that easy to trade. The price can be affected by many factors and the price changes anytime with no specific day or what.

Even though Monday, it can't be a signal to buy, if the analysis technique is not suitable for buying, stay away, wait until the price is really below and ready to go up, I know this is approaching the Chinese New Year so be careful to trade

Do you think Chinese New Year will have an impact on the market? I only saw when Christmas, there was no big impact on prices. maybe when the weekend market is quite crowded so when it falls on Monday some people do sell off.