Buying or selling BTC? How to pick the right time!

Traders and investors alike have a keen interest in understanding the crypto market's opportunities.

The majority of crypto traders come into the market with the intention of making money from every possible opportunity, but they end up frustrated and totally disappointed due to the fluctuations of market trends. Many traders struggle to grapple with the direction and dynamics of the market because of this psychology. 

After gaining an understanding of how the crypto market works and taking the time to study and understand its dynamics, the same market has been a lifter for some individuals. Being the first cryptocurrency developed by its creator Satoshi Nakamoto in 2009, Bitcoin had many doubters who refused to believe it could make rapid progress exponentially from the time of its creation to date. 

Crypto asset has seen major ups and downs caused by factors such as fear, uncertainty, and doubt (FUD) coming from financial institutions and government bodies opposing the idea of crypto becoming a global currency. Bitcoin has shown and proven to be a force to be reckoned with both now and in the future as it has continued to rise all the time.

Experts say you should consider more than just the current value of cryptocurrency. Bitcoin's value fluctuates a lot more than many fiat currencies' relative exchange rates. Therefore, it's not like exchanging between two traditional currencies.

  • When demand is high, prices will also be high. This also applies to low demand, which can affect prices.

  • Business hours tend to be the worst times to buy Bitcoin because more people are trading.

  • Also, consider business hours outside of the United States.

  • Bitcoin's value can also be significantly impacted by media coverage.

You may never be able to predict the best time to purchase Bitcoin. It's possible, however, if you know what to look for in the market and elsewhere, to make an educated guess.

Knowing the value of Bitcoin will help you decide when to buy it. Even though the value changes constantly, it historically follows certain patterns, like the stock flow chart. As a result of the volatility of the cryptocurrency market, most professional traders recommend that newcomers and potential traders do some due diligence before buying or selling cryptocurrencies.

There is a lot of media hype around Bitcoin's popularity worldwide, which has brought so much attention to its use as a means of payment and a store of value, especially in countries like El Salvador which has made it a legal tender for payment. Currently, market analysts believe Bitcoin and other cryptocurrencies are a good buy for investors knowing full well that the commodity is scarce and has a finite supply. 

As a result of the laws of demand and supply, the price will continue to rise as more people try to get their hands on Bitcoin. Due to bitcoin's volatility, anyone with a discerning mind and good risk-taking abilities could buy and sell it.

We are particularly proud to say that Klever has one of the most secure crypto wallets in the world, so users can store all their cryptocurrencies safely and securely. 

Whenever it comes to giving out financial advice, the decision is up to the user. Use Klever to make the best choice for your financial future. 

It is a Klever thing to do.

James Enajite
Klever Writer

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