Bytecoin (BCN)

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Daily analysis of Bytecoin (BCN) - 6 months

The performance of Bytecoin regarding the price differs every day. To make the best decision to buy Bytecoin, we are analysis in this article the performance of Bytecoin on the different weekdays. The amounts for this analysis are in USD ($). The analysis is performed on the last 6 months, starting on April 27th, 2021 to October 27th, 2021.

In the barchart below, the weekdays and average performance of Bytecoin are shown side by side.

Average daily change in price of Bytecoin per weekday between 04/27/2021 and 10/27/2021.

According to the performance of Bytecoin between April 27th, 2021 and October 27th, 2021, Bytecoin performed the best on Saturdays. On average, the price of Bytecoin increased 23.15% on Saturday.

The weekday on which the Bytecoin performed the worst, is Monday. On Mondays, the Bytecoin declined in value on average by -2.87%.

Bytecoin weekday performance

It is hard to tell whether the Bytecoin will increase or decrease in value on an average Sunday. The average change on a Sunday for the Bytecoin is -0.07%. However, the standard deviation on this weekday is 0.31%. This means that on most Sundays, the change in value of the Bytecoin is between -0.38% and 0.25%.

The Bytecoin declines in value on an average Monday with -2.87%. However, the uncertainty (or standard deviation) is quite large, namely 16.93%. This means that it is not possible to say whether on a regular Monday the Bytecoin will increase or decrease in value.

Bytecoin increased in value on an average Tuesday only slightly. The average increase in value of the Bytecoin was 0.17%. Allthough the Bytecoin closed a little higher very day compared to the opening, the variability of this result is high, as shown by the standard deviation (1.26%). This means that on 68 percent of the Tuesdays, the change in price of the Bytecoin is expected to be in the range of -1.10% and 1.43%.

The Bytecoin declines in value on an average Wednesday with -1.90%. However, the uncertainty (or standard deviation) is quite large, namely 10.36%. This means that it is not possible to say whether on a regular Wednesday the Bytecoin will increase or decrease in value.

It is hard to tell whether the Bytecoin will increase or decrease in value on an average Thursday. The average change on a Thursday for the Bytecoin is -0.24%. However, the standard deviation on this weekday is 0.87%. This means that on most Thursdays, the change in value of the Bytecoin is between -1.11% and 0.64%.

Allthough the Bytecoin decreases in value with -0.49% on an average Friday, the uncertainty of this decline is large. The standard deviation of the change of Bytecoin on Fridays is 2.59%. This means that the expected change of the value of Bytecoin is between -3.08% and 2.10% on 68 out of 100 Fridays.

The increase in value of the Bytecoin is 23.15% on an average Saturday. However, the uncertainty on the average change is high for the Bytecoin on Saturdays. This is the reason why an expected increase of the Bytecoin on an average Saturday cannot be predicted. The standard deviation for Bytecoin on Saturdays is high, namely 115.49%. This means that the expected range of value change for the Bytecoin is -92.33% and 138.64% on 68% of the Saturdays.

Bytecoin weekday performance details

Find below the details of the performance of Bytecoin 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 -0.07% 0.31% -0.38% to 0.25%
Monday -2.87% 16.93% -19.81% to 14.06%
Tuesday 0.17% 1.26% -1.10% to 1.43%
Wednesday -1.90% 10.36% -12.26% to 8.45%
Thursday -0.24% 0.87% -1.11% to 0.64%
Friday -0.49% 2.59% -3.08% to 2.10%
Saturday 23.15% 115.49% -92.33% to 138.64%
 

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