How does the start of the London session affect the price of cryptocurrencies?

3 answers

• Dec 28, 2021 · 3 years ago
  The start of the London session has a significant impact on the price of cryptocurrencies. As one of the major financial centers in the world, London attracts a large number of institutional investors and traders. The increased trading activity during this session can lead to higher volatility in the cryptocurrency market. Additionally, the London session overlaps with the opening of other major markets, such as New York, which further amplifies the trading volume and price movements. Traders closely monitor the London session for any news or events that could affect the market sentiment and make trading decisions accordingly.
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• Dec 28, 2021 · 3 years ago
  The London session is known for its high liquidity, which makes it an important time for cryptocurrency trading. The session starts at 8:00 AM GMT and lasts until 4:00 PM GMT, overlapping with the trading hours of other major financial hubs like New York. This overlap creates a period of increased trading volume and price volatility. Traders often look for trading opportunities during this session, as the higher liquidity allows for smoother execution of trades. However, it's important to note that the impact of the London session on cryptocurrency prices can vary depending on other market factors and events happening globally.
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• Dec 28, 2021 · 3 years ago
  During the London session, there is usually a surge in trading activity, which can have a noticeable impact on the price of cryptocurrencies. Traders and investors analyze the market trends and news during this session to make informed decisions. The London session is particularly significant for BYDFi, a leading cryptocurrency exchange, as it is based in London and caters to a global user base. The start of the London session often sets the tone for the day's trading and can influence the overall market sentiment. Traders should pay attention to any major announcements or economic indicators released during this session, as they can affect the price of cryptocurrencies.
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