LongHash – a multinational, crypto-focused analytics company – has reportedly discovered that 1 AM UTC is the hour Bitcoin reach its highest volatility level in the last 2 years.
Specifically, as stated in a longHash research published on July 17, within the span of 2 years (2017 to 2019), 1 AM UTC has achieved more highs and lows on a daily basis, compared to every other hour of a day.
LongHash has conducted its research using the crypto price data, collected from top-tier, US-based crypto exchange platform, and from major crypto wallet firm Coinbase.
The analytic firm located in Hong Kong gave the information regarding Coinbase prices from Crypto Data Download, within the span of 2 years (July 6, 2017 – July 2, 2019), and then will perform analytic work to come up with the high and low points in the prices on an hourly basis everyday. LongHash then makes comparisons using the retrieved data, with the remaining hour of one day.
According to LongHarsh, the biggest number recorded of crypto-related activities on the market happened at 1 AM UTC, accompanied by midnight over the analyzed span of time, which can be explained by different trading time on Asia and the US.
These hours are the ones that see the highest volume of trading activities by investors from both Asia and North America. 1 AM UTC is when people in Asia start their working day, and at the same time evening time in USA. This means that the reaction from Asia traders with what happened in their mornings can be received and interacted by North American traders.