Does Time of Day Affect Price?
Loading...
Loading...
Loading...
To examine the effect of hours (time zone) on the price of top 10 ASAs, first the daily average price of a day for each ASA has been calculated.
Then the deviation of the hour price from the daily average has been calculated.
The graph below shows the average deviation per hour per assets for 30 days and 10 assets.
We can see that the early days the price is higher than the late day.
However, this pattern is highly influenced by the overall market situation which was bearish in the past month.
We had a declining trend in terms of time in any interval.
However, by zooming in on single tokens such as Xfinite or choicecoin we can see that the price between 22.00 and 4.00 is at the highest level.