The Best Day of the Week To Make Cryptocurrency Trades (and What Days To Avoid)

Cryptocurrency trading can seem like the wild, wild west, and in some ways, it is. But it’s been around long enough by now that we have some historical data about when the best time is — and isn’t — to make crypto trades.

Here’s what you need to know about the best and worst days of the week to trade cryptocurrency.

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The Best Day of the Week To Buy Crypto

According to the Corporate Finance Institute, the best time of the week to buy cryptocurrency is on Monday. Prices tend to start low on Monday and increase as the week goes on. Crypto can be traded 24/7 but more people tend to buy and sell during working hours. The market slows down at night and on the weekends. So, a Monday after a slow weekend can be the best time to buy.

Note that this analysis refers to buying cryptocurrency, not trading it. When you trade, you are buying and selling at the same time. According to SGT, you want to trade crypto when trading volume is high. When trading is active, you have more volatility and higher liquidity, which can be an advantage when you’re buying and selling at the same time.

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Trading Days and Times

SGT recommends timing your trades to coincide with the opening hours of the major global financial hubs. The opening of Asian markets happens between 12:00 a.m. and 7:00 a.m. UTC  (Coordinated Universal Time). European markets are in session from 8:00 a.m. to 4:00 p.m. UTC, and the U.S. market is open from 1:00 p.m. to 9:00 p.m. UTC. (Note that UTC is five hours earlier than U.S. Eastern time, so the U.S. market is open from 9:00 a.m. to 4:00 p.m. ET.)

If you are trading Asian or European currencies, you may want to make your trades during the time those markets are open. If you’re trading currencies of different geographic areas, look for the period when the markets overlap to find the highest volume hours.

SGT also recommends trading mid-week. The consensus seems to be that traders are ramping up on Mondays and winding down on Fridays, making Tuesdays through Thursdays the days that see the most trading activity.

Other Factors That Can Influence Trading Times

The day of the week and time of the day that you trade may matter, but there are other factors that can influence the…