Crypto traders looking for an easy win may have to start going to bed a little later on Sundays.
New data shows that Sunday nights are the best time to buy Bitcoin during ‘the dip’ when it’s at a discount.
According to digital asset manager Capriole, buying on Sunday evenings and selling on Monday morning can be a simple, yet profitable strategy.
This Tweet from Capriole’s Charles Edwards confirms it:
Analysis by Cointelegraph, there are a number of reasons why Bitcoin performs better at the weekend.
Its report points to the fact that there are lower trading volumes which raises the likelihood of higher volatility and thus the likelihood of turning a profit.
These decreased volumes can lead to price pullbacks, which are then quickly reversed on Monday as buyers enter the market.
Also, certain markets involved in Bitcoin trading close over the weekend leading to a sudden spike in price movements when they open.
On top of these apparent Sunday opportunities, another one exists at the end of each month due to the closure of futures contracts.
* This article does not constitute financial advice or an investment recommendation. Investing in cryptocurrencies is high risk and highly speculative. The value of your investments can go down as well as up.
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