By Melkree - 21.03.2020
What time does the crypto market open and close
How does the value of the stock market affect cryptocurrency? 2, Views Since it is world wide, there is no open and close, you can trade 24/7. K views ·. review-catalog.ru › when-is-the-best-time-of-the-day-to-trade-cryptocurr.
But is it applicable to cryptocurrency markets?
Because, as it is known, the vast majority of these markets link around the clock, therefore only temporary price fluctuations may be caused by the human factor.
For instance, Asian or American investors may wake up and see a sudden price drop of some cryptocurrency. Then they might start the panic selling of their coins, worsening the situation on the market.
Let's try to do it. On the BTC price chart below, these zones are highlighted red, green, and blue respectively.
There are no systematic trends on this chart, except for some separate coincidences when large market movements were connected to highlighted zones. To study this more thoroughly, we calculated the percentage change of BTC price during the day.
Still no trends. All changes are limited, and few jumps from to were caused by the general volatility of the market in these days. Let's come back to the original idea of time zones.
We chose time intervals of three hours and calculated the average percent changes of prices during the day in all possible combinations. Yet what time does the crypto market open and close, it turns out that all changes vary in the very moderate for cryptocurrencies range: 0.
There is no sense to what time does the crypto market open and close further: correlation coefficients for weeks are what time does the crypto market open and close.
On the one hand, traders are not able to earn a couple of percent on the daily market fluctuations.
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