Bitcoin (BTC)

Current price: $ 10,420.49

24 hours price change: $ 92.00 (0.89%)

Daily analysis of Bitcoin (BTC) - 1 month

The performance of Bitcoin regarding the price differs every day. To make the best decision to buy Bitcoin, we are analysis in this article the performance of Bitcoin on the different weekdays. The amounts for this analysis are in USD ($). The analysis is performed on the last 1 month, starting on July 18th, 2019 to August 17th, 2019.

In the barchart below, the weekdays and average performance of Bitcoin are shown side by side.

Average daily change in price of Bitcoin per weekday between 07/18/2019 and 08/17/2019.

According to the performance of Bitcoin between July 18th, 2019 and August 17th, 2019, Bitcoin performed the best on Thursdays. On average, the price of Bitcoin increased 3.28% on Thursday.

The weekday on which the Bitcoin performed the worst, is Tuesday. On Tuesdays, the Bitcoin declined in value on average by -2.64%.

Bitcoin weekday performance

On an average Sunday, the Bitcoin increased 0.33%. However, since the expected deviation is 1.49%, the Bitcoin will decline in value on a Sunday quiet regularly. The expected price change of the Bitcoin on a Sunday is between -1.16% and 1.83%.

On an average Monday the Bitcoin shows an increase in value of 1.07%. However, the change of Bitcoin on most of the Mondays is between -2.92% and 5.07%. Therefore it is hard to tell whether an average Monday is a good day to start buying Bitcoins.

The Bitcoin declines in value on an average Tuesday with -2.64%. However, the uncertainty (or standard deviation) is quite large, namely 2.07%. This means that it is not possible to say whether on a regular Tuesday the Bitcoin will increase or decrease in value.

Bitcoin increased in value on an average Wednesday only slightly. The average increase in value of the Bitcoin was 0.22%. Allthough the Bitcoin closed a little higher very day compared to the opening, the variability of this result is high, as shown by the standard deviation (5.25%). This means that on 68 percent of the Wednesdays, the change in price of the Bitcoin is expected to be in the range of -5.02% and 5.47%.

The increase in value of the Bitcoin is 3.28% on an average Thursday. However, the uncertainty on the average change is high for the Bitcoin on Thursdays. This is the reason why an expected increase of the Bitcoin on an average Thursday cannot be predicted. The standard deviation for Bitcoin on Thursdays is high, namely 3.35%. This means that the expected range of value change for the Bitcoin is -0.07% and 6.63% on 68% of the Thursdays.

Bitcoin increased in value on an average Friday only slightly. The average increase in value of the Bitcoin was 0.07%. Allthough the Bitcoin closed a little higher very day compared to the opening, the variability of this result is high, as shown by the standard deviation (1.06%). This means that on 68 percent of the Fridays, the change in price of the Bitcoin is expected to be in the range of -0.98% and 1.13%.

On Saturdays, the Bitcoin decreases in value on average with -0.79%. On most of the Saturdays the Bitcoin decreases in value between -3.86% and 2.27%. The uncertainty (3.06%) is higher than the average decline percentage (-0.79%). Therefore, expected range of price changes of the Bitcoin on Saturdays is large.

Bitcoin weekday performance details

Find below the details of the performance of Bitcoin per day of the week. Both the average change in percentage and the standard deviation. The higher the standard deviation is, the higher the variation within the range of average change. Therefore, the 68% range has been added, which represents the change in price on 68% of the days.

Weekday Average change (%) Standard deviation (%) 68% range
Sunday 0.33% 1.49% -1.16% to 1.83%
Monday 1.07% 3.99% -2.92% to 5.07%
Tuesday -2.64% 2.07% -4.71% to -0.57%
Wednesday 0.22% 5.25% -5.02% to 5.47%
Thursday 3.28% 3.35% -0.07% to 6.63%
Friday 0.07% 1.06% -0.98% to 1.13%
Saturday -0.79% 3.06% -3.86% to 2.27%