UTC Time

Understanding UTC Time

When it comes to cryptocurrencies, the crypto world operates on UTC Time.

Cryptocurrencies are active 24/7, unlike traditional financial exchanges.

Having a standardized time system greatly simplifies matters as cryptocurrency users are spread across different time zones.

According to CryptoHash, the time period between 12am and 1am UTC is known for its high volatility in Bitcoin. This could be because it aligns with the start of the evening in North America and the beginning of Asia’s working day.

Traders, including those dealing with cryptocurrencies, often rely on Asian markets for guidance and base their decisions on the movements in that region.

In a 2019 study conducted by Forbes Digital Assets, it was discovered that 4pm UTC on Wednesdays is the most volatile time for BTC across multiple exchanges.

During this time, the volatility was 36% higher than the average for all time periods.

The study suggests that this may be due to it falling in the middle of the US working week.

On the other hand, the research also found that the hours between 8am and 10am UTC on Mondays are 35% less volatile compared to the average.