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Researchers Determined The Hours Of Highest Bitcoin Volatility

19 July 2019 11:38, UTC
Researchers Determined The Hours Of Highest Bitcoin Volatility

Researchers from LongHash crypto analytic company have determined that 1:00 UTC is the hour of the greatest volatility for Bitcoin (BTC) over the past two years. LongHash research is based on the archives of Coinbase, one of the largest cryptocurrency exchanges.

The Hong Kong-based firm collected data from Crypto Data Download about Coinbase prices over the period from July 6, 2017, to July 2, 2019, and analyzed hourly high and low prices for each hour of each day. LongHash analysts then compared each hour to the other 23 hours of each day, the company noted. As LongHash found, 1 AM UTC saw the most activity on crypto markets followed by midnight over the analyzed period.

These hours are the period when Western and Asian traders are most likely to be active simultaneously, LongHash suggested, adding that 1 AM UTC is the beginning of the workday in Asia and the beginning of the evening in North America. As Asia’s traders are reacting to the news of the day in the morning, North American traders are still awake to respond to the news from the markets.

Image courtesy of CCN



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