1 AM UTC Is the Most Volatile Hour for Bitcoin: Research
These days are among those times of day when Western and Asian dealers are likely to be active concurrently, LongHash proposed, including that 1 AM UTC will be the beginning of the workday in Asia and the beginning of the evening in North America. As Asia's dealers are reacting to this news of this day in the early hours, North American dealers are still awake to respond to this response, the company wrote. Meanwhile, Bitcoin's reclaimed its $10,000 support before today after the coin had fell beneath the markers on July 16. 1 AM UTC had longer everyday highs and more than every other half the evening over a span from 2017 to 2019, according to study released by LongHash on July 17. LongHash's research is based on crypto cost archives from major American crypto exchange and wallet support Coinbase. The Hong Kong-based company accumulated data from Crypto Data Download about Coinbase costs within the period from July 6, 2017 on July 2, 2019 and analyzed hourly high and low rates for every hour of every day. LongHash then compared every hour to the other 23 hours of every day, the business noted. As LongHash discovered, 1 AM UTC watched the maximum activity on crypto markets followed closely by midnight within the analyzed period, which is purportedly brought on by crossing Asia hours in Asia and North America.
Researchers in crypto analytics company LongHash have discovered 1 AM UTC to be one hour of greatest volatility for both Bitcoin (BTC) within the last two years.