2024-05-14 Bitcoin News
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2024-05-13
Summary of Last Month
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Understanding the Overall Trend
The overall trend in BTC exchange rate seems upward, with some variations and volatility. The BTC started from approximately 83,449.44628 and ended at 85,497.62740. However, discerning a clear incremental pattern is a complex task given the volatility and unpredictability of crypto markets.
Identifying Seasonality
Based on the data presented, it's challenging to identify clear seasonal patterns due to the nature of the data, covering only a single day. Seasonality patterns often emerge over longer periods such as weeks, months or years. However, more detailed data would be needed to detect any daily recurring patterns, such as fluctuations tied to market opening and closing times.
Noting Outliers
A few instances of sudden significant changes can be observed in the data, these could be potential outliers. For example, at 02:55:02, the rate jumped to approximately 85,243.73785 from the previous value of roughly 84,352.40173. However, more rigorous statistical analysis would be needed to confirm these as true outliers.
It's essential to note that the frequency of these potential outliers and the volatility in the exchange rates suggests that these aren't rare anomalies, but possibly integral characteristics of this market's behavior.
External Factors Impacting the Trend
As per your request, the analysis doesn't take into account factors like market opening and closing times, weekends or holidays, or significant financial news or reports. However, these factors can have a substantial effect on exchange rates in traditional financial markets, and to some extent in cryptocurrencies as well.
In sum, this dataset demonstrates the considerable volatility and unpredictability of the BTC exchange rate within a single day. The skew towards an upward trend suggests a generally positive market sentiment on this particular day, but due to the high volatility inherent in crypto markets, this must be taken with caution.
![Bitcoin Rates Swing Unpredictably Throughout 13th May 2024, Closing Lower](http://currencymart.net/images/news/bitcoin/2024-05-14/img-rEqWAlPx0khhb9QxUbaRO4Pn.webp)