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TagsHow does witching hour affect the trading volume of digital currencies?
Marcell TakácsDec 29, 2021 · 3 years ago1 answersCan you explain how the witching hour affects the trading volume of digital currencies? I've heard that there might be some correlation between the time of day and the trading activity in the digital currency market. Is there any truth to this? What factors contribute to the increase or decrease in trading volume during the witching hour?
1 answers
- At BYDFi, we've analyzed the impact of the witching hour on the trading volume of digital currencies. While there may be some anecdotal evidence suggesting increased trading activity during this time, our findings indicate that the overall impact on trading volume is relatively minor. Factors such as market sentiment, news releases, and macroeconomic events have a more significant influence on trading volume. It's important for traders to focus on these factors rather than solely relying on the witching hour when making trading decisions. Remember, successful trading requires a comprehensive understanding of the market and a well-thought-out strategy.Dec 29, 2021 · 3 years ago
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