Most BTC investors and crypto traders are changing their methods of trading in 2020, preferring to trade 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 sessions like the London and Asian financial market openings, have considerably little impact on BTC’s price volatility.
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%.
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