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, it’s completely normal to assume that the Crypto markets might follow the same logic and open and close in line with Wall Street and the City of London.
Well, you might be surprised to learn that’s not how they work.
What Time Does Crypto Market Open & Close?
Unlike Stock markets, Crypto markets are open 24/7, including weekends and holidays. So, in theory, nothing is stopping you from trading Crypto assets every waking moment as they operate on a decentralised computer network.
However, practically 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 the need to update server software to releasing new features on their platform.
If a bug is encountered, for example, they might need to perform sudden maintenance. You may be locked out of accessing your funds and executing trades if this occurs.
Crypto exchange outages can be very inconvenient for traders, especially during increased market volatility. Everyone wants to have 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 were to go bankrupt.
That’s why we don’t recommend keeping your crypto assets in an exchange. Instead, it’s better to keep your Crypto assets in a hardware wallet such as a Ledger or Trezor. 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 markets are open 24/7. But is it better to trade in the morning or in the afternoon, and what about trading crypto at 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 tends to be lower at the weekend. So it’s important to plan your moves at the end of the weekend when the volume will start to increase.
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 times they are open do 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 around the world also have different opening and closing times based on their location and time zone.
On the other hand, the cryptocurrency market operates continuously. This means that you can access it at any time, 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 crypto market, 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 crypto market operates 24/7, which means that traders have the flexibility to buy and sell cryptocurrencies at any time. However, it’s important to note that while the market is always open, 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?
Crypto 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 that traders can buy and sell cryptocurrencies at any time, including weekends and holidays. However, crypto exchanges might be unavailable due to maintenance.
Is the Crypto market open during the weekend?
Yes, the crypto market is 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, and it allows traders around the world 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.
