I have always heard that the best time to buy bitcoin for a Dollar Cost Avg strategy was on Monday's. I wanted to check this for myself so I ran a back test.Using data from Sep 2020 through April 2021, here are my takeaways:The best day to buy bitcoin is actually on Sunday at ~9pm or 1pm ESTThe best day to sell bitcoin is on Saturday at ~7am and and 3pm ESTIf you build a strategy that buys on Sunday and sells on Saturday, it does NOT beat buy and hold however buying on Sunday's will give you a lower cost basis.I published this analysis to https://ift.tt/3dRGHVr for anyone interested in the dataThe first pivot table shows the count of day and time for the 31 weeks between Sep 2020 and April where the price was smallest during the week while the second pivot table shows where the price was largest during the week.https://ift.tt/2Rp7CR9
Submitted April 10, 2021 at 09:10AM
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