Which Time Of The Day Is More Suitable For Crypto Trading? Tips From Kucoin
The Crypto industry never rests. This might be the ultimate benefit of crypto, but it has many drawbacks. The trading in crypto is open 24 hours and 7 days a week, so there are higher chances of market volatility than in the stock market. The stock market is open during business hours from 9 to 5 on working days, but the crypto market never shuts down.
So the question arises whether there is the best time for crypto trading or you can trade anytime. If you are willing to put your toes in the vast crypto industry KuCoin is the perfect solution because it provides the best features with the latest ETH and BTC prices and has minimal fees. The security features of KuCoin are unmatched, and it provides access to more than 700 coins and has more than 20 million users worldwide means that you can enjoy high liquidity. If you are new to crypto trading, make sure to check the guides on how to buy crypto and how to sell crypto. In this article, we will discuss the best time for crypto trading. So let’s get started.
Does Time Affect Crypto Trading?
Although the crypto market is open 24 hours, the traders and investors are not. Before 2017, investors did most crypto trading in the eastern hemisphere; hence, the trading volume and peak trading were mostly based on these time zones. But after 2018, the tables have turned, and the trading is mostly based on western trading time. It is better to consider the time when trading is at its peak because when you are trading in off-peak hours, the liquidity gets low, and the prices may fluctuate by any big transaction. Kucoin has a large user base worldwide, and it helps in increasing the market liquidity. On KuCoin, you get similar prices and liquidity all day long mymomblog.net.
Why Is Considering Time Important?
Considering time is crucial in crypto trading, especially when you have short-term investment. It is very important to understand the market behavior with the time of day and always try to enter and exit simultaneously to avoid daily market fluctuation. The relative strength index (RSI) is the best strategy to analyze the market entry and exit point, and in this way, you can maximize your profits.
Things To Avoid In Short-Term Crypto Trading
There are certain things that you should avoid in short-term trading. The first is that you should keep yourself away from scalping. It is the strategy in which the investor enters and exits the market within minutes. This strategy considers the time of day when the prices are getting high. The only problem is that each transaction can cause trading fees or commissions, and you can lose the profit. Another thing is that you should try to avoid trading during the weekend because the market is generally down during this time textboard.biz.
Time is an important factor to consider when investing in cryptos, and you must consider the entry and exit time based on the activity period of the crypto exchange. Certain things can change according to time, such as liquidity, market volume, and the price of coins. It is better to avoid Cryptocurrency bitcoin price and doge price at a particular time of the day and make it a benchmark for trading to avoid daily fluctuation.