The researchers named the hour of the day …

Researchers named the hour of the day when Bitcoin is most volatile

Analysts of the LongHash portal have estimated the hourly volatility of bitcoin over the past two years and found that in the period from midnight to 01:00 UTC (03:00 – 04:00 Moscow time), as a rule, the sharpest fluctuations in the cryptocurrency rate are observed.

More daily lows and highs were set during this hour than any other in the calendar day between 2017 and 2019. During the study, LongHash analysts focused on data from the American cryptocurrency exchange Coinbase.

According to the authors of the report, the explanation for the observed phenomenon may be the intersection of the hours of market activity in Asia and North America..

“This is one of the times during the day when Western and Asian traders are likely to be active at the same time. Asian traders are waking up and reacting to the news of the day, while traders from North America have not gone to bed yet and are reacting to the reaction of Asian markets, “the authors of the note write..

The researchers named the hour of the day ...

At the same time, analysts point out that there is no “right time” to buy bitcoin. They found that Bitcoin was more likely to hit its daily low than its high during UTC morning hours, but the difference was not significant..

“Timing to buy Bitcoin at the daily low and sell at the daily high may not be easy, but those who bought 2 years ago and just held the cryptocurrency could have a 3x return on invested capital,” concludes LongHash.

The researchers named the hour of the day ...

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