When does the cryptocurrency market open and close in 2023?
Many people wonder if the crypto market ever closes. In this article, you can read about the opening and closing times of the crypto markets.
What are the opening hours of the crypto markets?
The crypto market is open 24/7. Since the crypto market is completely decentralized, a party cannot simply stop trading. This means that you can buy and sell crypto at any time of the day.
Closing & opening of the crypto market
Despite being able to trade crypto 24/7, there is an official opening and closing time. This way, traders from around the world can clearly communicate their results.
We use the UTC time zone to determine a trading day. A day lasts from 12 to 12 UTC.
This means that in the Netherlands:
- Summer time: the trading day ends & begins at 2:00 in the night.
- Winter time: the trading day ends & begins at 1:00 in the night.
Weekly & monthly crypto market
The weekly starts on the night of Sunday to Monday UTC. This means that the weekly starts at 2:00 in the night during summer time and at 1:00 in the night during winter time.
Monthly closes on the last day of the month and reopens on the first day of the next month. This means that the monthly starts at 2:00 am during daylight saving time and at 1:00 am during standard time.
Pay extra attention when trading derivatives
When trading physical crypto, you don’t have to deal with opening and closing times. However, with some crypto brokers, you trade in derivatives on crypto.
A good example of this is crypto CFDs. CFDs are issued by the broker and often expire. When a contract expires, it is automatically closed. In this case, there are clear opening and closing times, so you have to be careful!
Conclusion: Does the crypto market ever close?
The crypto market is a 24/7 market, so you can invest in crypto at any time of the day. However, be aware when trading derivatives, as they expire at fixed times.