Data Shows Bitcoin Trading Swings During Asian Market Hours Lately

The data shows that Bitcoin Bitcoin Looks like a dip, during Asian market hours, despite being a major force in price movements a year ago 2020.

The report uses a return balance Bitcoin for three major time zones in order to judge the amount of activity that occurs in specific regions.

Based on the returns during these trading sessions, it becomes possible to determine which area may be the main driving force behind the changes of the currency company.

The North American trading session usually takes place from nine in the morning to five in the evening.

Then the Asian hours start from five in the evening until one in the morning. Finally, the European market rises between one in the morning and nine in the morning.

All times Eastern Time (AND). This chart shows revenue Bitcoin During these hours since January 2020:

As the chart above shows, while other regions enjoyed positive returns, Asian market times have seen only lower prices overall, with returns reaching (-14%).

During this period, the value of Bitcoin from 7.200 dollars to peak 65 A thousand dollars, from where I moved to 42 thousand dollars today.

On the other hand, the European trading time was the best time to exchange returns Bitcoin This year, the cumulative revenue 294%.

Returns also peaked for the market session at the level of 365% in June, while American hours peaked relatively quickly in January 2021And then, it idled for a while.

But with that and from July onwards, I started Bitcoin The market is witnessing strong movement during these times, which shows that US traders are back in the currency.

Currently, the cumulative returns are from the beginning of January 2020 at about 87% For the North American market cycle.

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Bitcoin price

At the time of writing, the price of Bitcoin about 42 A thousand dollars, down 11% In the past seven days.

And over the past month the coin has lost 16% From its value, the chart below shows the trend in the currency price over the past five days:

The value of the currency fell two days ago to 40.5 thousand dollars, but yesterday it decreased to 39.6 thousand dollars, although it has recovered slightly since then.

It is difficult to determine which direction the price may go in the future, but most likely the market will continue in this direction of volatility for a longer period.

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