Bitcoin (BTC)

Current price: $ 9,832.08

24 hours price change: $ 193.15 (2.00%)

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 May 5th, 2020 to June 4th, 2020.

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 05/05/2020 and 06/04/2020.

According to the performance of Bitcoin between May 5th, 2020 and June 4th, 2020, Bitcoin performed the best on Saturdays. On average, the price of Bitcoin increased 0.25% on Saturday.

The weekday on which the Bitcoin performed the worst, is Sunday. On Sundays, the Bitcoin declined in value on average by -2.09%.

Bitcoin weekday performance

The Bitcoin declines in value on an average Sunday with -2.09%. However, the uncertainty (or standard deviation) is quite large, namely 3.95%. This means that it is not possible to say whether on a regular Sunday the Bitcoin will increase or decrease in value.

Bitcoin increased in value on an average Monday only slightly. The average increase in value of the Bitcoin was 0.12%. 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 (1.03%). This means that on 68 percent of the Mondays, the change in price of the Bitcoin is expected to be in the range of -0.91% and 1.15%.

Allthough the Bitcoin decreases in value with -0.37% on an average Tuesday, the uncertainty of this decline is large. The standard deviation of the change of Bitcoin on Tuesdays is 0.64%. This means that the expected change of the value of Bitcoin is between -1.00% and 0.27% on 68 out of 100 Tuesdays.

Bitcoin increased in value on an average Wednesday only slightly. The average increase in value of the Bitcoin was 0.19%. 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 (0.61%). This means that on 68 percent of the Wednesdays, the change in price of the Bitcoin is expected to be in the range of -0.42% and 0.80%.

Bitcoin increased in value on an average Thursday only slightly. The average increase in value of the Bitcoin was 0.12%. 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 (0.36%). This means that on 68 percent of the Thursdays, the change in price of the Bitcoin is expected to be in the range of -0.24% and 0.48%.

It is hard to tell whether the Bitcoin will increase or decrease in value on an average Friday. The average change on a Friday for the Bitcoin is -0.25%. However, the standard deviation on this weekday is 0.45%. This means that on most Fridays, the change in value of the Bitcoin is between -0.69% and 0.20%.

Bitcoin increased in value on an average Saturday only slightly. The average increase in value of the Bitcoin was 0.25%. 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 (0.49%). This means that on 68 percent of the Saturdays, the change in price of the Bitcoin is expected to be in the range of -0.23% and 0.74%.

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 -2.09% 3.95% -6.05% to 1.86%
Monday 0.12% 1.03% -0.91% to 1.15%
Tuesday -0.37% 0.64% -1.00% to 0.27%
Wednesday 0.19% 0.61% -0.42% to 0.80%
Thursday 0.12% 0.36% -0.24% to 0.48%
Friday -0.25% 0.45% -0.69% to 0.20%
Saturday 0.25% 0.49% -0.23% to 0.74%
 

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