When Wall Street goes to sleep, bitcoin is usually just getting going. It often parties all night long, and in the process, notches more robust gains than while U.S. markets are open.
A hypothetical strategy that buys the coin at the equity-market close — at 4 p.m. in New York — and sells it at the next day’s open — at 9:30 a.m. — yields gains of roughly 260% going back to the start of 2020, according to Bespoke Investment Group. Conversely, buying it at the U.S. market open and selling it at the close spits out an advance of 3.6%. The coin even tends to trend higher during weekends, the firm found, when stock investors are resting or barbecuing or doing whatever weekend activities they’re fond of.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.
We humbly apologize for the inconvenience.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.
