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Articles

The day-of-the-week pattern of price clustering in Bitcoin

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ABSTRACT

Following Urquhart (2017) who finds evidence of price clustering in Bitcoin, we answer the question of whether the documented price clustering in Bitcoin is driven by any given day-of-the-week. We find evidence that Bitcoin prices cluster around whole numbers more on Fridays and least on Mondays. We also show that Bitcoin price clustering around the top three most frequent two-digit decimals is primarily a Friday phenomenon.

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Disclosure statement

No potential conflict of interest was reported by the author.

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