Bitcoin price has cautiously increased since January. A rising trend channel from $16,600 to $30,000 nearly doubled the spot price of BTC in H1.
The price moved in three phases, with sharp rallies in January, March and June.
Here’s what big language model Google Bard’s chatbot has to say about the best day of the week to buy cryptocurrencies like Bitcoin, Ethereum, and Ripple.
Cheapest day of the week to buy crypto?
It is not possible to say with certainty whether the markets will cool down for the time being or whether they will rise in the short term.
However, investors looking to accumulate cryptocurrencies in regular small increments over the long term might consider making Saturdays their favorite day of the week for stacking sats.
Buying a certain amount of cryptocurrencies or stocks weekly is a classic investment strategy known as dollar cost averaging.
According to Google Bard, Saturdays are the second best day of the week to buy crypto. However, if you are looking for the cheapest prices, according to Bard, the best day to buy cryptocurrencies is Sunday.
Here was Google Bard’s entire answer
Question: “Bard, what is the best day of the week to buy cryptocurrencies?”
“According to historical market data, Sunday is the best day of the week to buy cryptocurrencies. The second best day is Saturday. After that, prices rise, with Friday being the most expensive day to buy cryptocurrencies.
Here are some of the reasons why Sunday is considered the best day to buy cryptocurrencies:
- Trading volume is usually lower on weekends, which can result in lower prices.
- There is less news and volatility on weekends, which can also result in lower prices.
- Some investors may take profits on Friday, which may result in a price drop on Saturday and Sunday.
Of course, there is no guarantee that the cryptocurrency price will be lower on Sunday. The market is volatile and prices can rise or fall at any time. However, if you want to buy cryptocurrencies at a relatively low price, Sunday is a good day to start looking.”
Here’s a look at the numbers that back up Bard’s answer:
Psst: The Bitcoin price is reduced by 1% on Sundays
Bitcoin price was lower on average from Saturday to Monday in the last trading year. Analysis of historical daily price data suggests that Friday through Monday are the best days to buy cryptocurrencies.
According to the data, Tuesdays and Wednesdays are the best selling days.
The lowest average daily high price for bitcoin from August 5, 2022 to August 3, 2023 was on Sundays for each day of the week. During this period, the average Sunday intraday high of BTC was $23,595. On Saturday it was $23,480. The highest average was Wednesday: $23,850.
If an investor were to take full advantage of these numbers, it would mean buying their BTC 1% cheaper every week.
Not bad Bard.
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