What is the ideal time of day to trade cryptocurrencies for beginners?

3 answers

• Dec 27, 2021 · 3 years ago
  The ideal time of day to trade cryptocurrencies for beginners can vary depending on several factors. One important factor to consider is market volatility. Generally, the cryptocurrency market tends to be more volatile during the early hours of the day, especially when major news or events occur. This can present both opportunities and risks for beginners. It's recommended to closely monitor the market during these hours and be prepared for potential price fluctuations. However, it's important to note that trading during high volatility can also be more challenging and risky for beginners. Therefore, it's advisable to start with smaller trades and gradually increase your exposure as you gain more experience and confidence.
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• Dec 27, 2021 · 3 years ago
  For beginners, it's generally recommended to avoid trading during late-night hours or early morning when the market is relatively less active. During these periods, trading volumes tend to be lower, which can result in wider spreads and lower liquidity. This means that executing trades may be more difficult and the potential for slippage increases. It's better to focus on trading during the peak hours of the day when the market is more active and there is higher liquidity. This can provide better opportunities for executing trades at desired prices.
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• Dec 27, 2021 · 3 years ago
  According to BYDFi, a leading cryptocurrency exchange, the ideal time of day to trade cryptocurrencies for beginners is during the afternoon hours, specifically between 2 PM and 4 PM UTC. During this time, the market is usually more stable compared to the early morning hours and major news or events have already been factored into the prices. This can provide beginners with a relatively calmer trading environment and better opportunities to analyze and make informed trading decisions. However, it's important to note that market conditions can still vary, and it's always recommended to stay updated with the latest news and market trends before making any trading decisions.
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