Bitcoin (BTC)

Current price: $ 9,879.98

24 hours price change: $ -118.44 (-1.18%)

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 March 23rd, 2019 to September 22nd, 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 03/23/2019 and 09/22/2019.

According to the performance of Bitcoin between March 23rd, 2019 and September 22nd, 2019, Bitcoin performed the best on Mondays. On average, the price of Bitcoin increased 1.40% on Monday.

The weekday on which the Bitcoin performed the worst, is Thursday. On Thursdays, the Bitcoin declined in value on average by -0.62%.

Bitcoin weekday performance

Bitcoin increased in value on an average Sunday only slightly. The average increase in value of the Bitcoin was 0.11%. 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 (4.30%). This means that on 68 percent of the Sundays, the change in price of the Bitcoin is expected to be in the range of -4.19% and 4.41%.

On an average Monday the Bitcoin shows an increase in value of 1.40%. However, the change of Bitcoin on most of the Mondays is between -2.46% and 5.27%. Therefore it is hard to tell whether an average Monday is a good day to start buying Bitcoins.

Bitcoin increased in value on an average Tuesday only slightly. The average increase in value of the Bitcoin was 0.30%. 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 (4.97%). This means that on 68 percent of the Tuesdays, the change in price of the Bitcoin is expected to be in the range of -4.67% and 5.27%.

On an average Wednesday the Bitcoin shows an increase in value of 1.16%. However, the change of Bitcoin on most of the Wednesdays is between -2.59% and 4.92%. Therefore it is hard to tell whether an average Wednesday is a good day to start buying Bitcoins.

On Thursdays, the Bitcoin decreases in value on average with -0.62%. On most of the Thursdays the Bitcoin decreases in value between -4.97% and 3.72%. The uncertainty (4.35%) is higher than the average decline percentage (-0.62%). Therefore, expected range of price changes of the Bitcoin on Thursdays is large.

On an average Friday the Bitcoin shows an increase in value of 1.34%. However, the change of Bitcoin on most of the Fridays is between -1.97% and 4.65%. Therefore it is hard to tell whether an average Friday is a good day to start buying Bitcoins.

On an average Saturday, the Bitcoin increased 0.51%. However, since the expected deviation is 3.23%, the Bitcoin will decline in value on a Saturday quiet regularly. The expected price change of the Bitcoin on a Saturday is between -2.73% and 3.74%.

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 0.11% 4.30% -4.19% to 4.41%
Monday 1.40% 3.87% -2.46% to 5.27%
Tuesday 0.30% 4.97% -4.67% to 5.27%
Wednesday 1.16% 3.76% -2.59% to 4.92%
Thursday -0.62% 4.35% -4.97% to 3.72%
Friday 1.34% 3.31% -1.97% to 4.65%
Saturday 0.51% 3.23% -2.73% to 3.74%