According to LongHash's article release today, the data shows that in the past two years, zero and one o'clock in the morning were the biggest fluctuations in bitcoin prices. Especially at 1 am UTC time (9:00 Beijing time), the daily maximum price and the daily minimum price appear more often than other time periods. This indicates that the bitcoin price fluctuated the most during this time period. This may be because at 1 o'clock UTC time, North America just entered the evening, while Asia is the beginning of the day. Western traders and Asian traders are most likely to be active at the same time.
Asian traders may have just woke up and are learning about the day's news; North American traders are still watching the dynamics of the Asian market. But in fact, buying Bitcoin doesn't have the "best time" of the day (can be purchased at any time of the day). In the past two years, when people bought bitcoin in the morning (between 3 am and 12 noon UTC), they were more likely to buy at a lower price in the day. But in fact, the difference is not big. It is very unwise to infer this period of time as the best trading time of the day. Perhaps the data proves the old investors' belief that market time is better than market timing. Buying bitcoin at a low price and selling it at a high price is risky at a fixed time of the day. But those who bought Bitcoin two years ago and have been holding it now have tripled their return on investment.
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