In the volatile world of Bitcoin (BTC) trading, an intriguing trend has captured the attention of investors and sparked curiosity among traders.
Recent data analysis reveals that Tuesdays have emerged as the most profitable day for Bitcoin, surpassing the returns of other days in the week.
However, it is important to approach this information with a broader perspective, considering various factors that influence Bitcoin’s volatility and price movements.
Tuesday Emerge as Most Profitable Day for BTC
According to recent data analysis, Tuesday has outpaced other days of the week to emerge as the most profitable day for Bitcoin (BTC) in terms of average returns (AR).
The data analysis indicates a historical pattern suggesting that Bitcoin has demonstrated stronger performance on Tuesdays compared to other days of the week.
This phenomenon could be driven by traders seeking to capitalize on market opportunities and position themselves strategically for the rest of the week.
However, it is important to note that while this information may seem spellbinding, it doesn’t offer specific techniques for maximizing returns.
Market dynamics are subject to numerous variables, including economic conditions, investor sentiment, geopolitical events, and technological advancements. These factors can shift and evolve, leading to changes in market behavior.
According to the same data, Monday is recorded as the worst day for Bitcoin, which can be attributed to the abovementioned factors. Still on the same report, the next day that follows Tuesday is Friday reaching a high of 2% while Tuesday stands above the 2% mark.
While the knowledge that Tuesdays have historically been profitable may influence trading decisions, it should not be the sole basis for making such choices.
Rather, this information can be integrated into a comprehensive strategy that considers broader market trends, global events, and individual financial goals.
By incorporating multiple factors into decision-making processes, traders and investors can make more informed and well-rounded choices to maximize their chances of success.
Bitcoin Gaining Grounds Among Large Investment Management Firms, Report
Recent reports show that ARK Investment Management, founded by Cathie Wood, is making significant progress in pursuing a Bitcoin (BTC) exchange-traded fund (ETF).
ARK Investment Management aims to launch an ETF allowing investors to gain exposure to Bitcoin’s price movements without directly owning the cryptocurrency. Also, prominent investment firm BlackRock applied in mid-June to launch a spot Bitcoin exchange-traded fund (ETF).
This move by BlackRock generated substantial optimism within the cryptocurrency community, indicating growing acceptance and interest from mainstream financial institutions.
BlockRock could be the first issuer of a spot BTC exchange-traded fund in the United States if approved. However, some executives and prominent analyst have expressed their opinions on this.
ARK analyst Yassine Elmandjra states, “Other applicants will be able to amend their filings with similar agreements at little cost.”