There is of course no one answer, but we can use different historical factors to analyze how other traders have behaved in the past. For example, do people tend to buy or sell more frequently during certain times of the day, or certain days of the week?

About a year ago, LongHash analyzed daily and weekly price trends in hopes of finding answers to the above questions. But the Bitcoin world has changed dramatically since then. This article will analyze again to observe the price and volume trend of Bitcoin in 2020 and 2021 so far.

Specifically, this article analyzes Gemini's hourly Bitcoin price highs and lows, as well as transaction volume data available on CryptoDataDownload. Data coverage begins January 1, 2020 and ends February 22, 2021. As an example, to get the "high" price data at 1:00 am on Monday, we took the "high" price on Gemini at 1:00 am UTC every Monday and calculated the The average price of BTC.

We found that, broadly, Bitcoin tends to start low and its price slowly climb throughout the week; reaching weekly highs on Saturday or Sunday. Overall, this steady pattern is remarkable - no big swings to capitalize on, just a smooth uptrend.

In terms of daily trading volume, it clearly reflects a stronger ups and downs pattern, but the results are mostly within expectations. Trading volume on weekdays seems to peak around 16:00 UTC (11:00 AM ET), which makes sense - the Gemini exchange caters mostly to North American and European users, so it occurs when their normal business hours overlap Peaks are reasonable. In general, the trading volume is lower on weekends, which is also reasonable.

, Use data to understand the blockchain.

LongHash, Use data to understand the blockchain.