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Bitcoin tends to spike on weekends: Here are some potential reasons why

Surges in weekend activity since the beginning of May account for about 40% of Bitcoin's price gains this year

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Vildana Hajric | Bloomberg
Thinking of jumping into Bitcoin? If this week’s boom and bust trading didn’t scare you away, you might want to do so on a Saturday or Sunday. Bitcoin, which trades 24/7, tends to spike on weekends. In fact, surges in weekend activity since the beginning of May account for about 40 per cent of Bitcoin’s price gains this year, according to data compiled by Bloomberg. Need more proof? Bitcoin peaked at $19,666 on a Saturday in December 2017, according to data from Bitstamp, a cryptocurrency exchange.

Unlike securities on most traditional exchanges, cryptocurrencies trade around the clock across the
Topics : Bitcoin

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First Published: Jun 29 2019 | 9:58 PM IST

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