Is it possible to buy Bitcoin?

When is the best time to buy bitcoins?

There is no definite answer to the question of when it is best to buy, and there can't be, but academic economists have developed a technique for predicting bitcoin prices based on past price movements. If bitcoin performs well, it will probably continue to do so in the short term. That is, you should buy the cryptocurrency if its value rises by more than 20% in a week.

How to calculate the ideal time to buy bitcoin?

Theory 1

Demand for bitcoin decreases on weekends, which causes its price to go down on Mondays. In contrast, the bitcoin price is expected to be high on Fridays and Saturdays.

Theory 2

This theory assumes that people decide to buy BTC on weekends and execute orders as soon as the week starts. In this scenario, volumes are higher on Mondays and more cautious behavior is expected as the week progresses.

Theory 3

Experienced traders usually avoid buying bitcoins on days when they get paid from 9 to 5, usually in the middle and end of the month. The logic is simple: when people have money in their pockets, they can buy bitcoins, increasing demand and price.

From all the theories about when is the best time to buy bitcoins, we can conclude that there is no perfect market in the real world. Manipulation, human behavior, and news can affect the price of bitcoin.

Where to store bitcoins?

You can store your bitcoins on an exchange - some Bitcoin exchange offer cold storage options in addition to online storage, which is a safer and more secure way.

Since bitcoins are intangible and have no physical appearance, they are stored in wallets. Wallets consist of three main parts, including a bitcoin address, a public key and a private key. With private keys, users can access their bitcoin addresses, through which users can spend their funds. Both the private key and the public key are known as digital keys needed to validate and authenticate a transaction request. If a user accidentally loses their private key, it means they lose control and access to their bitcoins.

By purchasing cryptocurrency you can use different types of wallets. By using multiple storage options you will ensure the security of your crypto savings.