Buying BTC on Monday actually earns nearly 20 times more than buying on Sunday?

Bitcoin trading is uninterrupted 24 hours a day, 7 days a week, so curious friends will ask, which day is the highest rate of return in seven days a week?

Larry Cermak, Research Director of The Block, based on the Coinbase transaction price from January 2017 to today. On the average, BTC's yield on Monday was the highest (0.71%) , Saturday (0.62%) was second only to Monday, Wednesday (0.19%) and Thursday (0.15%) were the lows of the working day. The worst performer is Sunday (0.04%) , and the highest is almost the lowest 20 times. It is worth noting that the daily time here is calculated according to UTC (Coordinated Universal Time), that is, the time of day is 8 hours before Beijing time.


At the same time, Larry also said that he speculated that Ethereum and other cryptocurrencies would basically have a similar distribution.

However, Larry's statistics are based on daily opening and closing prices, ignoring the daily amplitude. For example, this morning's market, Bitcoin hovered around $9,550 in the early hours of the morning, starting at 5 o'clock, all the way down, once fell to $9,177, but quickly back, back to $9,600, and then touched $9730. In the morning, the amplitude reaches 6%, which is not reflected in the opening price and closing price of the daily line. Therefore, for short-term traders, this data does not seem to be significant.


However, for those who have long insisted on a fixed vote, this statistic seems to be very helpful. For a person who randomly chooses to invest a day in a week, the average return is about 0.337%, which is only half of a fixed-week voter. At the same time, investors who choose to vote for a week are much more profitable than those who choose Sunday (0.71% vs 0.04%).

Of course, this is just the statistics from January 2017 to the present. According to crypt analyst Ceteris Paribus, from May 2013 to the present, the highest yields are Sunday (0.67%), the second is Monday (0.29%), and the worst is Thursday (0.12%). This statistic is very different from Larry's results. However, we can still see that they ranked in the top two results on Monday and did not achieve good yields on Thursday .

It should be noted that historical data can only be used as a reference. After all, the future trend is always unknown.