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Finding the 'Right' time to invest in Bitcoin

Bitcoin markets that have been known to fluctuate by as much as 30% in just one short day are enough to send even experienced traders into a tailspin, with as many as 95% ultimately losing money here. Yet, peak values of nearly $20,000 in late 2017 and further notable resurgences throughout 2020, make this a difficult market to forget.

Far from being a red flag best avoided, this is testament to the fact that with Bitcoin more than most other trades, timing is an imperative aspect of success, though perhaps not in the ways that you might assume. As such, while there isn’t exactly a ‘right’ time to trade, these tips can at least help you to find the time that works best for at least helping you to earn big from your efforts here.

Find Entry Points With Dollar-cost Averaging (DCA)

In place of trying to time a market that largely runs outside of any feasible time frame, many traders are turning to dollar-cost averaging to find the ideal in-point. By reducing the impact of market volatility using smaller investments made more often, DCA is a long-term strategy that enables an investment scheme according to you, rather than Bitcoin's unreliability. Without having to necessarily attempt navigating this ever-changing market, or risk losing a lump sum on so-called ‘peak’ investments, this enables you to largely overlook what’s happening to Bitcoin in the moment for affordable investments always made at the right time for you.

Consider What’s Gone Before

Honestly, tracking Bitcoin’s history isn’t going to provide you with a profitable in-point like research might on other stocks because of how up and down things have been. That said, researching this short past using historical data collected through a stock api will still help you to better understand not necessarily where Bitcoin markets are going, but why taking your time here matters so much in the first place. Realizing that Bitcoin’s history is largely one of growth especially helps to prove that, despite some notable price retrenchments, profits here are very much possible when approached with realistic timelines in mind.

Set Price Targets

Notable Bitcoin risks mean that, in large part, the ‘right’ time to get stuck in is irrelevant as long as you’re patient enough to play the long game. DCA will help you to achieve this, but it’s also imperative to set price targets that allow you to time your exit right. After all, with fluctuations so unpredictable, timing a trade sell is as essential as buying at the right time in the first place. Specifically, traders need to look past market volatility according to price targets that they’ve set for themselves. This way, you can keep investment steady, and at least a little more reliable, regardless of market shifts.

There might not be a ‘right’ time for Bitcoin in general, but there’s certainly a right time for your investment journey, and each of these tips can help you to realize it for boosted profit potential at long last!

About The Authors

William Willis

William Willis - William Willis is a freelance writer and social media manager who specializes in assisting finance professionals and Fintech entrepreneurs in growing their online audience and attracting more paying customers. William worked as a bank teller and virtual assistant for financial firms in the United States and the United Kingdom for six years before beginning her writing career. William is a strong force in the workplace, inspiring others to work hard and excel with her optimistic attitude and boundless energy. He enjoys hiking, crocheting, and playing video games with her grandchildren in her spare time.

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