What are the potential risks of buying crypto on Fridays?

3 answers

• Dec 16, 2021 · 3 years ago
  One potential risk of buying crypto on Fridays is increased market volatility. Due to lower trading volumes over the weekend, the market can be more susceptible to sudden price swings. This can result in higher price slippage and increased risk of losses. It's important to carefully monitor the market and set appropriate stop-loss orders to manage this risk.
  360180
• Dec 16, 2021 · 3 years ago
  Another risk is the potential for delayed transactions. Some cryptocurrency exchanges may experience delays in processing transactions over the weekend, which can lead to longer wait times for buying or selling crypto. This can be frustrating if you're looking to take advantage of a specific price movement or opportunity.
  323108
• Dec 16, 2021 · 3 years ago
  From BYDFi's perspective, buying crypto on Fridays can be risky due to potential liquidity issues. As a relatively new exchange, BYDFi may have lower trading volumes compared to more established exchanges. This can result in wider bid-ask spreads and lower liquidity, making it more difficult to execute trades at desired prices. It's important to consider the liquidity of an exchange before buying crypto on Fridays.
  418105