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- Ross O'Sullivan
- March 1, 2024
As you probably know by now, traditional Stock markets have fixed trading hours. They are usually open from Monday to Friday and begin trading around 8:00 to 9:30 am and close around 4:00 and 4:30 pm, depending on the time zones. With that in mind, assuming that the Crypto markets might follow the same logic and open and close in line with Wall Street and the City of London is normal.
However, you might be surprised to learn that’s not how they work.
What Time Does the Crypto Market Open & Close?
Unlike Stock markets, cryptocurrency market hours are 24/7, including weekends and holidays. So, in theory, nothing stops you from trading Crypto assets every waking moment as they operate on a decentralised computer network.
However, generally speaking, it’s important to consider that people usually depend on Crypto exchanges to trade these assets. And there’s no guarantee that your exchange will always be online.
Crypto Exchange Outages
All Crypto exchanges experience outages occasionally, which can happen for various reasons, from updating server software to releasing new features on their platform.
For example, they might need to perform sudden maintenance if a bug is encountered. If this occurs, you may be locked out of accessing your funds and executing trades.
Crypto exchange outages can be inconvenient for traders, especially during increased market volatility. Everyone wants unobstructed access to their funds and assets, of course. Not to mention the ability to buy and sell at specific times.
Some crypto exchanges, such as Coinbase, also have a clause in their terms and conditions that they could use the funds from your account to get the company out of trouble if they go bankrupt.
That’s why we don’t recommend keeping your crypto assets in an exchange. Instead, keeping your Crypto assets in a hardware wallet such as a Ledger or Trezor is considered safer. That way, you can use another exchange platform when your current one goes down.
Best Time to Trade Crypto
Now we understand that the Crypto market hours are 24/7. But what is the best time to trade? What about crypto trading in the morning or the afternoon on weekends?
Day traders are the ones most concerned with the best time of day to trade Crypto assets. That’s because they profit from increased volatility. Since most historical data suggests that the highest volatility is between 9:00 am and 11:00 am Eastern Time, that’s potentially the best time to trade.
So why is that time window so important, you ask? Because it’s when US and European business hours overlap.
Demand and trading volume tend to be lower at the weekend. So, planning your moves at the end of the weekend when the trading volume will increase is important.
Cryptocurrency vs Stock Market Trading Hours
The stock market has specific hours when it’s open: Monday through Friday and closed on weekends and public holidays. The exact market hours depend on the location of the exchange. For example, the London Stock Exchange opens at 8 am GMT and closes at 4:30 pm GMT, while the New York Stock Exchange opens at 9:30 am ET and closes at 4 pm ET. Other stock exchanges worldwide also have different opening and closing times based on the location, time zones and local time.
On the other hand, as we mentioned earlier, the cryptocurrency market operates continuously. This means you can access it anytime, even on weekends and holidays. However, there may be certain days or times when it’s better to trade, depending on how many traders are active and how much liquidity there is.
With the cryptocurrency markets, you can check the current prices of coins in real-time and buy and sell coins whenever you want. This provides more flexibility and convenience than the stock market’s fixed trading hours.
Conclusion
The cryptocurrency markets operate 24/7, meaning that crypto traders can buy and sell cryptocurrencies anytime. However, it’s important to note that while the cryptocurrency market is always open, crypto trading volumes and liquidity can vary depending on the time of day and day of the week.
It’s also important to be aware of any potential outages of specific exchanges and to consider having access to more than one exchange if this is a regular occurrence.
FAQ: Crypto Market Closing & Opening Hours
Which days of the week are Crypto markets open?
Cryptocurrency markets work every day of the week, from Monday to Sunday.
What time do the crypto markets close?
The crypto markets never truly close, as they operate 24/7. This means traders can buy and sell cryptocurrencies anytime, including weekends and holidays. However, crypto exchanges might be unavailable due to maintenance.
Is the crypto market open at the weekend?
Yes, the cryptocurrency market hours are 24/7, so the crypto markets are open during the weekend, unlike traditional stock markets that typically close on weekends.
What time is the daily close for Crypto?
The crypto market never truly closes, as it operates 24/7. However, in terms of tracking price movements and technical analysis, some traders may consider the daily close to be at midnight UTC (Coordinated Universal Time), which is 7:00 pm ET (Eastern Time) and 4:00 pm PT (Pacific Time) in the United States.
This is because UTC is the standard used in the global financial industry, allowing traders worldwide to have a common reference point for market activity.
Do cryptocurrencies trade 24/7?
Yes, cryptocurrencies trade 24/7, meaning they are traded around the clock, every day of the week, including weekends and holidays.
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Ross O'Sullivan
Ross is the co-founder of Every Bit Helps YouTube channel & website. After hearing about Bitcoin back in 2013, Ross was initially put off thinking that he had missed his opportunity. However, in 2017 made his first purchase, now he buys & holds for the long term.While working as an IT project manager, he spent his spare time buying & refurbishing properties, and now runs an Airbnb business back in the UK. Spending his early years travelling between Ireland and England, Ross continues to travel & lives abroad with his family.
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