Weekends are rising? Since May, 40% of BTC's rising prices have occurred on weekends.

Want to invest in Bitcoin? Admission on Saturday or weekend may be a good option. According to data compiled by Bloomberg, since the beginning of May, the rise in bitcoin over the weekend has accounted for about 40% of the increase in bitcoin prices this year. Coincidentally, Bitcoin reached an all-time high of $19,666 on a Saturday in December 2017, according to data from the cryptocurrency exchange Bitstamp.

Unlike most traditional exchange securities, cryptocurrencies are traded around the clock on a global scale. This is because digital assets run on a decentralized network driven by blockchain technology, recording all transactions, allowing encrypted investors to send digital tokens anytime, anywhere.

“This is absolutely unique,” ​​said David Tawil, president of the encryption hedge fund ProChain Capital.

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Why is the price always going to rise on weekends? Here are some possible reasons:

Layout in advance, waiting for good news

Like encrypted transactions, news reports never end. But many big companies may have to wait until Monday to issue a major announcement. For example, Merger Monday has detailed records indicating that many companies have chosen to report the acquisition on Monday morning.

Tawil said that the encryption company also chose Monday as the announcement day, and many traders may try to meet the benefits in advance through weekend deals . Of course, many traders don't know if Monday will really be good, but the encryption market is developing so fast. It is not a wrong choice to expect good news on Monday morning.

Group Thinking

Encrypted investors may discuss news and conduct transactions with friends or other investors on Saturday or Sunday.

Hunter Horsley, CEO of Bitwise Asset Management, said:

“The whole market is basically retail. I think these investors have more free time to read this week's news, chat with friends and share their good news with friends this week.”

In 2017, when the price of Bitcoin skyrocketed, there was a lot of discussion about cryptocurrency on Thanksgiving dinners in the United States. Many crypto enthusiasts took on the task of explaining the advantages of cryptocurrencies to the closest friends and family.

Horsley believes that large cryptocurrency and blockchain conferences have similar effects. Bitcoin rose sharply during the blockchain cycle in New York in May this year.

Less trading volume, more obvious price trend

Jonathan Zeppettini, director of international operations at Decred, said there may be fewer people trading on weekends, leading to more obvious price movements.

Bloomberg intelligence analyst Mike McGlone thinks this is true. He said:

“Many Asian and more mature traders will choose the time and path that will hinder profit acquisition. Professional leveraged funds are using all the ways to trigger market volatility and profit from it.”

FOMO (fear of missing psychology)

After seeing a sharp rise in Bitcoin, many investors will choose to enter the market on weekends for fear of missing future earnings. This sentiment can even drive many investors who are not too risky to join. According to Bitstamp's data, for the weekend of June 22, Bitcoin rose nearly 19% on the week of the week and then rose 10% on the weekend.

CFTC trader report released on Friday

The US Commodity Futures Trading Commission (CFTC) generally publishes a trader's report on Friday afternoon, outlining the latest open interest changes in futures and options contracts. Speculators can collect valuable information from reports, including updates on traders' positions. Indicators such as short positions provide insights into bearish traders' specific securities, and viewing historical data provides insight into bearish/bullish momentum.

The CFTC released a report on Friday afternoon, but many investors may not be able to watch the full report and trade on Saturday morning.

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