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Articles

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

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Pages 807-811 | Published online: 12 Jul 2018
 

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.

JEL CLASSIFICATION:

Disclosure statement

No potential conflict of interest was reported by the author.

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