• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
bitcoin buy and sell
Nexo

Should you Buy Bitcoin on Fridays and Sell on Mondays?

Ricardo Martinez by Ricardo Martinez
2 years ago
in Bitcoin, News, News teaser
0
Advertisement

A comprehensive study analyzed 2 years’ worth of Bitcoin buying and selling data. The findings were pretty surprising. The research took a look at the average weekly market cycle to find the best day of the week to buy, and also to sell.


What Were the Findings That Researchers Discovered?

Longhash’s study took a look at the Bitcoin hourly price data over a two year period and noticed some very interesting patterns regarding price action and trading volume. The data for their study was provided by CryptoDataDownload.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The methodology behind the study was to find an average price for open, close, high, and low for every hour of every week. So, for example, they took the high price on every Monday at 6 am and found the average to come to a mean price. They did this for every hour of every day of the week for a two-year span. It must have been a lot of work!

The researchers found that the average lowest price for Bitcoin was at 6 am UTC time on Fridays. This means that this is on average, is the best time to take a position, in a long trade.

Buy Bitcoin on mobile app with credit card payment

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Obviously, the BTC market is very volatile and may not always conform to an overall average, so don’t take these findings as gospel. It isn’t investment advice, it’s simply market analysis.

The researchers also found that on average, on Mondays & Tuesdays around midnight UTC, the Bitcoin price averaged 170 dollars higher than on Fridays.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

This means that Monday or Tuesday statistically is the best time to cash out your Friday long or take a short position to cash out on the subsequent Friday when the price is statistically lower.

Why Does the Bitcoin Market Fluctuate Like This?

To be frank, nobody really knows, although the researchers in the study above speculated that due to Monday/Tuesday midnight UTC time, it may be that because of timezone overlap, more active traders are online at this time. Asian, European and American traders are all active at this time.

The researchers did note, that the trading volume isn’t especially higher during this time, that it doesn’t exactly correlate. Researchers did note a correlation with the lower prices on Fridays, with lower trading volume, however, lending credence to their findings for lower prices.

Mondays could be reflecting higher price points due to institutional investors taking positions at the beginning of the week. Many OTC desks do their best to make large buy orders and sell orders invisible to the retail trading market to prevent front-running.

That would also support the lower prices on Friday evenings as traders cash out for the week on the positions they took on Monday/Tuesday. This is purely speculation, of course. Either way, kudos to the researchers who conducted the study and revealed the interesting results.

What do you think of this bitcoin price study? Let us know in the comments below!


Image via Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Ricardo Martinez

Ricardo Martinez

Related Posts

Bitcoin

Bitcoin Koalas: 55% Of Investors Didn’t Sell Their Coins During Crypto Storm

2 hours ago
Crypto

Crypto Rout On Trading Volumes Costs Coinbase $1.1 Billion In Losses

4 hours ago
Bitcoin

Bitcoin Rally Ignites Lackluster Performance Of Crypto Stocks

8 hours ago
bitcoin miners

Bitcoin Miners Sold 5,700 BTC During July, New Report Finds

18 hours ago
Bitcoin

Bitcoin Miner Revenue Slows Down As BTC Price Slumps Sideways

20 hours ago
Crypto

Crypto Markets Have ‘Hit The Floor,’ JP Morgan Says, As Bitcoin Nears $24,000

1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.