What is the correlation between the closing time of European markets and the trading volume of cryptocurrencies?

3 answers

• Dec 17, 2021 · 3 years ago
  Yes, there is a correlation between the closing time of European markets and the trading volume of cryptocurrencies. When European markets close, it can lead to a decrease in trading volume for cryptocurrencies. This is because European traders are a significant part of the global cryptocurrency market, and their absence during the closing hours can impact the overall trading activity. Additionally, the closing time of European markets can also influence market sentiment and investor behavior, which can further affect the trading volume of cryptocurrencies.
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• Dec 17, 2021 · 3 years ago
  Definitely! The closing time of European markets has a direct impact on the trading volume of cryptocurrencies. As European markets close, there is a decrease in liquidity and trading activity, which can result in lower trading volume for cryptocurrencies. Traders tend to wind down their positions and take a break during this time, leading to reduced trading volume. It's important for cryptocurrency traders to be aware of the closing time of European markets and consider its potential impact on trading volume.
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• Dec 17, 2021 · 3 years ago
  According to a study conducted by BYDFi, there is a clear correlation between the closing time of European markets and the trading volume of cryptocurrencies. The study analyzed data from multiple cryptocurrency exchanges and found that trading volume tends to decrease during the closing hours of European markets. This can be attributed to the reduced participation of European traders during this time. However, it's worth noting that the impact may vary depending on the specific cryptocurrency and market conditions. Traders should consider multiple factors when analyzing trading volume patterns.
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