RATE Group | Should you Buy Bitcoin on Fridays and Sell on Mondays?
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Should you Buy Bitcoin on Fridays and Sell on Mondays?

16 Feb Should you Buy Bitcoin on Fridays and Sell on Mondays?

Posted at 10:49h in Bitcoin News by

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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.

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…

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