Sundays Are the Perfect Time to Buy the Bitcoin Dip, Data Shows

Recent data shows that Sunday evening is the best time to buy Bitcoin according to Capriole digital asset manager Charles Edwards.

"Bored on Sunday at midnight? It just so happens to be the best time to buy Bitcoin."

Second, traditional markets that facilitate Bitcoin trades, like CME, close during weekends.

Reduced BTC trading volume and CME closure are possible reasonsDuring the weekend, as traditional markets close, trading volume at Bitcoin exchanges also tends to drop off.

Due to low Bitcoin trading volume during the weekend, BTC also tends to see sudden pullbacks.

The CME Bitcoin futures market and its closure during the weekend could also be impacting Bitcoin's strong performances on Mondays.

Data shows that the Bitcoin exchange market usually moves to fill the gap between CME and the rest of the market.

Following a weekend, Bitcoin often sees a major price action.

In recent weeks, the open interest of the CME Bitcoin futures market has significantly increased and this could possibly be a reflection of how CME is increasing its influence over the global Bitcoin market.

It's also possible that the data is purely coincidental and reduced trading volume on weekends is the primary reason for Sunday's offering 'discounted' Bitcoin prices.