Bitcoin (BTC)

Current price: $ 7,471.59

24 hours price change: $ -66.08 (-0.88%)

Daily analysis of Bitcoin (BTC) - 6 months

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 6 months, starting on June 8th, 2019 to December 7th, 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 06/08/2019 and 12/07/2019.

According to the performance of Bitcoin between June 8th, 2019 and December 7th, 2019, Bitcoin performed the best on Mondays. On average, the price of Bitcoin increased 1.03% on Monday.

The weekday on which the Bitcoin performed the worst, is Sunday. On Sundays, the Bitcoin declined in value on average by -0.64%.

Bitcoin weekday performance

On Sundays, the Bitcoin decreases in value on average with -0.64%. On most of the Sundays the Bitcoin decreases in value between -3.60% and 2.32%. The uncertainty (2.96%) is higher than the average decline percentage (-0.64%). Therefore, expected range of price changes of the Bitcoin on Sundays is large.

On an average Monday the Bitcoin shows an increase in value of 1.03%. However, the change of Bitcoin on most of the Mondays is between -1.69% and 3.76%. Therefore it is hard to tell whether an average Monday is a good day to start buying Bitcoins.

Allthough the Bitcoin decreases in value with -0.57% on an average Tuesday, the uncertainty of this decline is large. The standard deviation of the change of Bitcoin on Tuesdays is 3.20%. This means that the expected change of the value of Bitcoin is between -3.77% and 2.63% on 68 out of 100 Tuesdays.

Historical performance on Wednesday do not show an increase in value of the Bitcoin on which a prediction can be made. The Bitcoin increased in value on average on an average Wednesday with 0.95%. However, the uncertainty of this increase is high. The expected change in value of the Bitcoin on a Wednesday is between -2.60% and 4.51% (see also the table below).

Allthough the Bitcoin decreases in value with -0.31% on an average Thursday, the uncertainty of this decline is large. The standard deviation of the change of Bitcoin on Thursdays is 3.87%. This means that the expected change of the value of Bitcoin is between -4.18% and 3.55% on 68 out of 100 Thursdays.

Historical performance on Friday do not show an increase in value of the Bitcoin on which a prediction can be made. The Bitcoin increased in value on average on an average Friday with 0.90%. However, the uncertainty of this increase is high. The expected change in value of the Bitcoin on a Friday is between -1.82% and 3.62% (see also the table below).

Bitcoin increased in value on an average Saturday only slightly. The average increase in value of the Bitcoin was 0.02%. 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 (2.11%). This means that on 68 percent of the Saturdays, the change in price of the Bitcoin is expected to be in the range of -2.09% and 2.13%.

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 -0.64% 2.96% -3.60% to 2.32%
Monday 1.03% 2.72% -1.69% to 3.76%
Tuesday -0.57% 3.20% -3.77% to 2.63%
Wednesday 0.95% 3.55% -2.60% to 4.51%
Thursday -0.31% 3.87% -4.18% to 3.55%
Friday 0.90% 2.72% -1.82% to 3.62%
Saturday 0.02% 2.11% -2.09% to 2.13%