Which holidays in Hong Kong have the most impact on the trading volume of digital currencies?

3 answers

• Dec 31, 2021 · 3 years ago
  During major holidays in Hong Kong, such as Chinese New Year and Christmas, the trading volume of digital currencies tends to decrease. This can be attributed to reduced market activity as traders take time off to celebrate with their families and friends. Additionally, during these holidays, there may be limited liquidity in the market, leading to wider spreads and increased volatility. It is important for traders to be aware of these trends and adjust their strategies accordingly.
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• Dec 31, 2021 · 3 years ago
  Holidays like the Mid-Autumn Festival and National Day in Hong Kong can have a significant impact on the trading volume of digital currencies. These holidays often coincide with long weekends, which can result in increased trading activity as individuals have more free time to engage in cryptocurrency trading. Moreover, during these holidays, there may be specific promotions or events in the digital currency market that attract more participants, leading to higher trading volume. Traders should keep an eye out for any potential opportunities or market movements during these holidays.
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• Dec 31, 2021 · 3 years ago
  According to a study conducted by BYDFi, the holidays in Hong Kong that have the most impact on the trading volume of digital currencies are Chinese New Year, Christmas, and Easter. During these holidays, the trading volume tends to decrease significantly compared to regular trading days. This can be attributed to a combination of reduced market participation and lower liquidity. Traders should be cautious during these periods and consider adjusting their trading strategies accordingly. It is important to note that these trends may vary from year to year and it is recommended to closely monitor market conditions during these holidays.
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