Bitcoin price per weekday
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Have you ever wondered which day of the week is best to buy bitcoin, well look no further, In this post I try to analyse the daily opening price of bitcoin from 28th of April through to 29th of July My approach is simpleI got the data from coinmarket cap, extracted the exact day of the week from each line and then calculated the average price of bitcoin for each day of the week.
Here is what I found. As you can see from the tableaverage bitcoin prices are lowest on Sundays but Monday is very close too. When I did the analysis and saw how close the averages for Sunday and Monday were, I decided to do the same analysis with a smaller fraction of the data, so I analysed bitcoin prices on each day for the past 53 weeks starting from 29th of July The analysis generally follows the same trend, but this time average bitcoin prices is lowest on Monday.
It is worthy to note that average bitcoin prices in both analysis are highest on Fridays closely followed by Saturday, wonder if any one finds that one strange. Well there is the analysis, eager to see how you react to this one.
It is important I state here that there a lot of factors that affect the price of bitcoin, it is very volatile, thus you probably need to look and research further than the data available in this post if you ever decide to buy some bitcoin, that being said,I got the idea for this post when I needed to get an sbd refill, I had time on my side and did not want the stress of doing series of technical research and speculation before buying the bitcoin I needed, so I just thought I would dig into the data and find out the day of the week where I would have the greatest chance of buying bitcoin at its lowest for that week.
Thanks for reading my post. Let me know your view on this post in the comments, I read and appreciate every comment.
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Keep an eye on my blog for my next post. You can also follow me datageek. Upvoted and Resteemed by xx-votesplusthe dropAhead curation team! Join dropahead in Streemian https: Please upvote this comment!
This post has been upvoted from the communal account, minnowsupportby datageek from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy The goal is to help Steemit grow by supporting Minnows and creating a social network. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members. If bitcoin prices are generally going up, you may end up with a false result that days early in the week are better because they are before days late in the week. You only get the effect that the last day of the week is best if you happen to calculate the results always at the end of the week and if you calculate over several years that effect will be small.
I would have suspected intuitively because I have a penchant to. Now thanks to your stats i can act on it with confidence. This post received a 4. For more information, click here!
Ok bosswould look into steem analysis laterbut my thinking is that since all alts are dependent on bitcoin,the trend would most likely be the same, but you never know until you dig inso I will check it out. Thank you so much for this. I love giving back to the community - good karma. I wrote a piece on Steemit earlier describing a list of crypto currencies with interesting projects. I think you'll like it. That means that bitcoin need a little push up so that, when bitcoin will go to the moon then all of us will get rich.
Thanks datageek for confirming what I have always speculated. You earned a follow! Click here to read more! Wow, now I know where to buy and sell my bitcoins. Great value, thanks datageek: Good points in this blog. Interesting to see I'm not the only one that is thinking about this. Buy low, sell high, it seems so simple but most investors still don't seem to get it: I have been looking at this myself that last couple of weekends and studying the fact that Sunday seems to be the best time to buy BTC.
I was thinking about it. Thanks a lot datageek for a great post! You have upvote and follow from me: Best day of the week to buy bitcoin. Hello Guys, Have you ever wondered which day of the week is best to buy bitcoin, well look no further, In this post I try to analyse the daily opening price of bitcoin from 28th of April through to 29th of July Here is what I found As you can see from the tableaverage bitcoin prices are lowest on Sundays but Monday is very close too.
Here is what I found The analysis generally follows the same trend, but this time average bitcoin prices is lowest on Monday. Authors get paid when people like you upvote their post. Glad you found it interesting. Keep up the good work! Great now you have some analysis to back your observation. Hmm interesting angle, will check this out later. After all, the 'end of the week' is an arbitrary choice since days are cyclical. At least a post I could use: I will upvote this. Glad you found it useful.
Thanks for this information dude. Glad you find it helpful bro. Thanks for the report. Yeah checked out your post too. Expecting more insights from you.
Ok lets go buy some BTC. Remember DYOR if you are buying to invest. This is a good information and more insightful from the statistical approach you used. Glad you found it helpful. Hi, friend very nice. Glad you find it helpful. Will follow you right back!