Sundays is the best DCA day! @peter You might want to change it to Sundays and keep adjusting as more data is gathered?
6 months later, what does your data suggest? Friday or Sundays?
Exactly looks like Wed. for me so far since I would say summer 2018
also what about time zone? I think that matters.
I’m unable to view this video.
Does, " Fridays on average are down and when they are up, they’re relatively shorter gains than the rest of the week. The next best day appears to be Wednesday." Still hold true?
I noticed Sundays sometimes also drop in price. I am only in crypto since Nov 2017 so I am probably wrong.
@mwlang, have you looked at the data recently? Has Wednesday stuck as preferable over Friday since October of last year?
I haven’t looked at it lately. I can run the numbers again, but it may be a bit before I can get to it. Ping me if a week goes by and I haven’t posted an update.
NOTE: Methodology changed! Previously, we were using the 24 hour change % from prior day and summing up the change % by day of week in each month. If Bitcoin was going up at beginning of the month then going down at end of the month, this led to overall change % for the month and day near zero. Which could get misleading if just one week a change on Wed recorded +4% and the other three weeks recorded -1.25%. I noticed several near 0% for the last three or so months and when I looked at a few it was because on the whole, the gains and losses cancelled out due to bing in a side-ways market lately with short bursts in one direction or another to new range-bound trading zones.
So I made two changes:
- Every day’s change % is calculated as it’s HLC3 ((high + low + close) / 3) relative to the SMA of the HLC3 the preceding 7 days.
- The median of each day of week of each month is used rather than average. This picks the value near the middle of the collected values for that day of week in the month tallied and helps offsets the effect of an unbalanced swing or even one too balanced and cancelling itself out!
Here are the last 12 months through end of Feb 2019:
NOTE: The data is from BInance and the daily candle closes at midnight UTC and opens with first trade or 15 seconds past midnight (whichever occurs first).
Thank you for taking the time! DCA Wednesday! (up to last month, at least)
This is a great strategy and those who HODL will get thru this bear market. Let’s get it!
Some DCA coverage on CryptoLove @mwlang