Weekday Seasonality Report on Bitcoin (BTC)

Here's the visualisation showcasing the seasonality analysis for Bitcoin based on weekdays:Blue Bars: Represent the average returns for each weekday.Black Line: Denotes the volatility (standard deviation) of the returns. A higher value indicates higher price fluctuations on that day.The average daily returns for Bitcoin on different weekdays are as follows:

Volatility (Standard Deviation) of Returns by Weekday:

Number of Green Days vs. Red Days by Weekday:

Key TakeawaysHighest Average Returns:

• Wednesdays have the highest average return, suggesting it might historically be the most profitable day to hold Bitcoin.

Positive Momentum Start:

• Mondays also show strong average returns, indicating the week often starts with positive momentum.

Weekend Stability:

• Saturdays have the lowest volatility, hinting at more stable prices on this day.

Midweek Volatility:

• Mondays and Wednesdays exhibit higher volatility compared to other weekdays, implying larger price fluctuations and potentially higher risk or opportunity on these days.

End-of-Week Caution:

• Thursdays and Fridays show a slight decline in average returns. Particularly, Thursdays have higher days with negative returns, suggesting caution for end-of-week trading.

Overall Trend:

• Despite some variability in returns across weekdays, Bitcoin has shown positive average returns on most days, reinforcing its strong upward trend over the period analysed.

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