Bitcoin (BTC)

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Daily analysis of Bitcoin (BTC) - 3 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 3 months, starting on January 25th, 2024 to April 25th, 2024.

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 01/25/2024 and 04/25/2024.

According to the performance of Bitcoin between January 25th, 2024 and April 25th, 2024, Bitcoin performed the best on Wednesdays. On average, the price of Bitcoin increased 0.67% on Wednesday.

The weekday on which the Bitcoin performed the worst, is Tuesday. On Tuesdays, the Bitcoin declined in value on average by -0.14%.

Bitcoin weekday performance

Bitcoin increased in value on an average Sunday 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 (0.70%). This means that on 68 percent of the Sundays, the change in price of the Bitcoin is expected to be in the range of -0.52% and 0.88%.

On an average Monday, the Bitcoin increased 0.37%. However, since the expected deviation is 1.48%, the Bitcoin will decline in value on a Monday quiet regularly. The expected price change of the Bitcoin on a Monday is between -1.12% and 1.85%.

It is hard to tell whether the Bitcoin will increase or decrease in value on an average Tuesday. The average change on a Tuesday for the Bitcoin is -0.14%. However, the standard deviation on this weekday is 0.33%. This means that on most Tuesdays, the change in value of the Bitcoin is between -0.47% and 0.18%.

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 0.67%. However, the uncertainty of this increase is high. The expected change in value of the Bitcoin on a Wednesday is between -1.97% and 3.32% (see also the table below).

Bitcoin increased in value on an average Thursday only slightly. The average increase in value of the Bitcoin was 0.04%. 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 (0.87%). This means that on 68 percent of the Thursdays, the change in price of the Bitcoin is expected to be in the range of -0.83% and 0.91%.

Bitcoin increased in value on an average Friday only slightly. The average increase in value of the Bitcoin was 0.10%. 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 (0.46%). This means that on 68 percent of the Fridays, the change in price of the Bitcoin is expected to be in the range of -0.36% and 0.56%.

Bitcoin increased in value on an average Saturday only slightly. The average increase in value of the Bitcoin was 0.00%. 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 (0.28%). This means that on 68 percent of the Saturdays, the change in price of the Bitcoin is expected to be in the range of -0.28% and 0.28%.

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 0.18% 0.70% -0.52% to 0.88%
Monday 0.37% 1.48% -1.12% to 1.85%
Tuesday -0.14% 0.33% -0.47% to 0.18%
Wednesday 0.67% 2.65% -1.97% to 3.32%
Thursday 0.04% 0.87% -0.83% to 0.91%
Friday 0.10% 0.46% -0.36% to 0.56%
Saturday 0.00% 0.28% -0.28% to 0.28%
 

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