Blockchain research company LongHash has released the findings of its research project that aimed to study the fluctuations of Bitcoin prices throughout the day. The research team collected historical price data within two years, between July 6, 2017, and July 2, 2019. Analysis revealed that the hours between midnight and 1 A.M (UTC) tend to be the most volatile hours for the cryptocurrency.
The researchers first gathered price data from Coinbase with the help of a third-party platform, Crypto Data Download. They then compared the highs and lows for each hour of each day against the remaining 23 hours of that day. Upon graphically representing the data, the research team found that the Bitcoin market had a specific time window in which prices were most likely to fluctuate.
Research Team Finds Bitcoin’s Most Volatile Hour to Be 12 AM to 1 AM (UTC)
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Updated by
Max Moeller
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