According to a research carried out by the cryptocurrency analysis company LongHash, 1 AM (UTC) is the time when bitcoin has reached a higher volatility over the last 2 years.
According to the research, which was published on July 17, there have been major price movements, both upward and downward, between 2017 and 2019.
The company has reached this conclusion after analyzing the price dynamics registered by U.S. crypto trading platform Coinbase.
In order to conduct the study, the analysis firm has studied the highs and lows recorded during each hour between July 6, 2017 and July 2, 2019.
Apparently, the activity peaks registered in the crypto market, which in turn cause greater volatility, are caused by the interaction between Western and Asian traders. Asian investors start their trading session at that time, so they begin to sell and buy their crypto assets basing their decisions on the news they read at the beginning of the trading session.
Western traders stay active until that moment in order to make their last movements of the day based on what their Asian colleagues do.
Ihodl has reported today that Coinbase, the cryptocurrency exchange the data has been taken from, has quietly shut down its Coinbase Bundle service.
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