LongHash publishes study of Bitcoin volatility
The research of the analytical company LongHash showed that the greatest activity and volatility of Bitcoin in the last two years is manifested between 0:00 and 1:00 o'clock in the world coordinated universal time (UTC).
The company's report notes that Bitcoin is one of the most complex assets for day trading, as there is no concept of “day” for it. Bitcoin trading is conducted around the clock, seven days a week. This property allows for a more thorough study of price trends that change during the day.
Based on information obtained using Crypto Data Download and the Coinbase cryptographic pricing archive, analysts came to the conclusion that the most active Bitcoin volatility in the last two years is between 0:00 and 1:00 UTC. As a result of comparing the number of hourly highs and lows for 24 hours each day, the researchers compiled a chart showing the total number of daytime highs (pink line) and lows (blue line).
Based on this diagram, it becomes clear that the greatest activity and bitcoin volatility is between the above-mentioned time period. Experts suggest that such activity is related to the fact that at this time Asian traders are working together, starting the day and US traders completing their work.
19 July, 2019 16:00
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