Bitcoin (BTC)

Current price: $ 17,002.31

24 hours price change: $ -312.53 (-1.80%)

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 November 6th, 2022 to December 6th, 2022.

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 11/06/2022 and 12/06/2022.

According to the performance of Bitcoin between November 6th, 2022 and December 6th, 2022, Bitcoin performed the best on Thursdays. On average, the price of Bitcoin increased 0.40% on Thursday.

The weekday on which the Bitcoin performed the worst, is Monday. On Mondays, the Bitcoin declined in value on average by -0.44%.

Bitcoin weekday performance

The average increase of the Bitcoin on an average Sunday is 0.31%. This is a small increase, however, the expected change of the Bitcoin in 95% of the Sundays is -0.13% and 0.75%. This means that only on 2.5% (or slightly over 1 Sunday per year) the expected change of the Bitcoin is below -0.13%. On the other hand, you would not have to expect that the change on a single Sunday will be above 0.75%. This will also only happen on 2.5% of the Sundays. On 68% of the Sundays, the increase of the Bitcoin will be in the range of 0.09% and 0.53%.

Allthough the Bitcoin decreases in value with -0.44% on an average Monday, the uncertainty of this decline is large. The standard deviation of the change of Bitcoin on Mondays is 0.82%. This means that the expected change of the value of Bitcoin is between -1.26% and 0.38% on 68 out of 100 Mondays.

Bitcoin increased in value on an average Tuesday only slightly. The average increase in value of the Bitcoin was 0.18%. 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 (0.22%). This means that on 68 percent of the Tuesdays, the change in price of the Bitcoin is expected to be in the range of -0.04% and 0.41%.

On an average Wednesday, the Bitcoin increased 0.37%. However, since the expected deviation is 1.16%, the Bitcoin will decline in value on a Wednesday quiet regularly. The expected price change of the Bitcoin on a Wednesday is between -0.80% and 1.53%.

On an average Thursday, the Bitcoin increased 0.40%. However, since the expected deviation is 0.84%, the Bitcoin will decline in value on a Thursday quiet regularly. The expected price change of the Bitcoin on a Thursday is between -0.44% and 1.24%.

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 -0.13%. However, the standard deviation on this weekday is 0.92%. This means that on most Fridays, the change in value of the Bitcoin is between -1.04% and 0.79%.

It is hard to tell whether the Bitcoin will increase or decrease in value on an average Saturday. The average change on a Saturday for the Bitcoin is -0.26%. However, the standard deviation on this weekday is 0.77%. This means that on most Saturdays, the change in value of the Bitcoin is between -1.03% and 0.51%.

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 0.31% 0.22% 0.09% to 0.53%
Monday -0.44% 0.82% -1.26% to 0.38%
Tuesday 0.18% 0.22% -0.04% to 0.41%
Wednesday 0.37% 1.16% -0.80% to 1.53%
Thursday 0.40% 0.84% -0.44% to 1.24%
Friday -0.13% 0.92% -1.04% to 0.79%
Saturday -0.26% 0.77% -1.03% to 0.51%
 

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