Trading Time Suitable For Bitcoin Jackpot

Trading time

Trading time is one of the important factors to be considered as a crypto trader. Most Bitcoin investors and crypto traders are changing the pattern of trading in 2020.

Reports have shown that to trading around the American trading session, because of the high price volatility that occurs at the end of New York stock market trading time, which is around 9:00 pm to 10:00 pm GMT.

It should also be noted that price volatility for bitcoin, the world’s flagship currency by market capitalization, is highly correlated with the opening of American financial markets. In addition, other trading times like the London and Asian financial market openings, have considerably little impact on BTC’s price volatility.

Data retrieved from Santiment Research Company from July 4, 2020, to October 4, 2020, showed that;

  • The address activity on Bitcoin peaks around 9:00 pm to 10:00 pm GMT, before declining just slightly upon the market close, from 11:00 pm to 12:00 am.
  • The lowest hourly address activity occurs between 12:00 pm and 1:00 am GMT (3:00 am to 4:00 am for those on the United States West coast).

Furthermore, Skew.com, a crypto analytic firm, found out that the midweek had more volatility in the BTC market, than the beginning or end of the trading week. Weekends were also observed to be quiet.

Price fluctuations do see an interesting trend, but it’s not really the notable correlation to hourly address activity that we would really be hoping for. That being said, it’s not absent of any correlations whatsoever.

If we simply split the first and second halves of each trading day, there is a clear better average performance during the second half. From 12:00am to 12:00pm GMT, the average price return is -0.006%. But from 12:00pm to 12:00am, the average return is +0.023%.

This article is sourced from:https://nairametrics.com