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Buy Bitcoin on Friday and Sell it on Monday?

A new Analysis that is against in my recent thread "Monday is the best day for you to buy your bitcoin?"
The researcher found that the average lowest price of bitcoin was at 6 am UTC time on Fridays and the best time to invest or buy bitcoin.
The research tends to find the open, close, high, and low for every hour of every week.
They found out that the market price on Monday and Tuesday has the Bitcoin price averaged 170 dollars higher than on Fridays. Meaning that Monday and Tuesday is the best time to withdraw your investment. Still the market price of bitcoin was volatile the study is justs getting the average so you cannot rely on this analysis all the time.

https://i.imgur.com/Ee6fTqr.png

read the info here:
https://www.longhash.com/en/news/3272/Friday-Lows-and-Monday-Highs:-Bitcoin-Price-Patterns-By-Day-and-Hour

My Recent thread:
https://bitcointalk.org/index.php?topic=5219260.msg53657784#msg53657784

Quote from: Asuspawer09 on January 20, 2020, 05:16:25 PM

Monday is the best day for you to buy your bitcoin? ??? ???

Quote from: Asuspawer09 on January 19, 2020, 06:29:59 AM

https://i.postimg.cc/XNPj2mKm/aaaaaw.png

https://i.postimg.cc/NLhLZzX6/awdawd.png

Source:
https://cointelegraph.com/news/new-analysis-finds-that-mondays-are-the-best-days-to-buy-bitcoin
https://www.cryptoglobe.com/latest/2019/11/monday-is-the-best-day-to-buy-bitcoin-data-shows/

In the graph, we could easily see and conclude that Mondays are the top average return of all days in a week. Also, we could see that Wednesday and Thursday that has average return of -0.09% and -0.23%.

In my opinion, I think for long term investment these days doesn't really matter anymore as long as we do buy low and sell high in the market, but I do believe that this analysis is on point in weekly investment or short term investment.

What are your thoughts about this?

Quote from: Asuspawer09 on February 17, 2020, 03:01:20 AM

The researcher found that the average lowest price of bitcoin was at 6 am UTC time on Fridays and the best time to invest or buy bitcoin.

If you would have done this in the week-end just passed, you would have bought at around 10240$ and sold at 9790$. Not a good business.
The morale of the story is: don't just go by various self-called specialists, some don't know sh*t and Bitcoin market is more volatile than the "rules" they want so badly to find out.

Quote from: Asuspawer09 on February 17, 2020, 03:01:20 AM

Still the market price of bitcoin was volatile the study is justs getting the average so you cannot rely on this analysis all the time.

This is the only correct part of the analysis imho.

Quote from: NeuroticFish on February 17, 2020, 06:58:11 AM

There was another expert a week ago telling us that is best to buy on Monday and sell on...I don't remember but I hope it wasn't Friday.
The biggest problem with those statistics is that even if they were 100% true the moment people would start following them and something like 10% of the buyers would really buy on Friday the prices will skyrocket during that period and dump even more on Monday so for some it would be a total loss.

Those things are like trying to guess the winning horse based on the winners's number from previous races.
You might hit the jackpot once but you're going to lose 3 times that when you draw the line.

Quote from: NeuroticFish on February 17, 2020, 06:58:11 AM

Quote from: Asuspawer09 on February 17, 2020, 03:01:20 AM

The researcher found that the average lowest price of bitcoin was at 6 am UTC time on Fridays and the best time to invest or buy bitcoin.

Quote from: Asuspawer09 on February 17, 2020, 03:01:20 AM

Still the market price of bitcoin was volatile the study is justs getting the average so you cannot rely on this analysis all the time.

This is the only correct part of the analysis imho.

This is the reason why so many new investors are having a hard time or deciding to quitbon crypto.
Those guys who always falls into those sweet talks or so called TA's advice are the ones who lose so much.
Do your own research don't let them decide for your money.

So this means that or even proven that Monday the price of bitcoin never fall down all the time just like what experts say here

https://coincodex.com/article/6648/the-best-day-to-buy-bitcoin-is-monday/

I think this is all been manipulated and I'd never believed that even Friday could be a good time to buy Bitcoin as well. I'd never think it was a joke or whatever it is knowing that fluctuations come around and it happens all the time no matter what day it was. Because in me, I'd never put in mind that today is Monday or Friday but as long as the price is acceptable to me, I'll put at risk buying Bitcoin.

Quote from: bhabygrim on February 17, 2020, 09:40:20 AM

Quote from: NeuroticFish on February 17, 2020, 06:58:11 AM

Quote from: Asuspawer09 on February 17, 2020, 03:01:20 AM

The researcher found that the average lowest price of bitcoin was at 6 am UTC time on Fridays and the best time to invest or buy bitcoin.

Quote from: Asuspawer09 on February 17, 2020, 03:01:20 AM

Still the market price of bitcoin was volatile the study is justs getting the average so you cannot rely on this analysis all the time.

This is the only correct part of the analysis imho.

I’m really surprised to know that people are so naive and they yet fall for such idiotic claims made by their analysts, and god only knows when will they realise that no one can predict correctly about bitcoin prices. @NeuroticFish very well said and I hope no one from here decided to purchase on a Friday and then decided to sell today, also I hope you guys will follow the basic rule i.e. buy bitcoins on the dips irrespective of the day, and sell it when you’re in profits.

Isn't it buy on Mondays and sell on Fridays? Though the assumption is too early to announce since that pattern has only appeared for the past 2 weeks only. Plus, the profit made isn't really anything huge so the effort might not be that much worth it. Plus, you've already said it yourself. It's a volatile market. Assuming a pattern based off of 2 weeks of market movement isn't really that of a good move. Not to mention the fact that Buying on Friday and selling on Monday puts you in a negative profit instead of a positive one.

Just buy BTC whenever it hit lows tbh. If you want to invest more that is. Stop selling everyt ime it drops and just keep holding them. Exit the market when you've already made a sizeable profit. We invest what we can lose, so don't make additional movements regarding analysis you don't even understand.

It works only when you don't try lol. I watched and tried this method several times. It was true the price started to increase on Friday, up to Monday then on Tuesday it then started to decrease.
I first noticed and watched this for like a month. Then I decided to buy to apply it (buy on Friday and sell on Monday before it start to decrease again) Guess what it never worked.

Then when I stopped to do it, it started again so I said to myself why not give another chance, and a third, etc. Well, it has never worked for me, so I gave up loosing a few thousand Euros.

#Rekt ::)

Doesn't it really make sense to you as well? I mean think about it, bitcoin has become something for the financial sector already so I can understand many people doing a long term investment to it.

However, when you think about it bitcoin is and has always been the investment product for many regular folks, regular folks do not have access to selling bitcoin and moving it to their bank accounts during weekends which means anyone who wants to sell their coins on Friday/Saturday/Sunday all have to sell it on Friday, for example if you need to sell it on Tuesday you can sell it on Tuesday and don't have to sell it on Monday, but you can't sell on Sunday so you have to sell it on Friday. Which means 3 days worth of sale all happens on one day which is Friday which makes it the cheapest day of the week.

it makes perfect sense that price be at the lowest in weekend and starts going up as the new week starts. it is usually the case with other markets with their market open and close times.

BUT the problem is that it is not reliable! first of all there is no guarantee that price makes this kind of move every week. there simply is no reason for it. secondly it depends only on the trend. for example if we were in a downtrend then the start of the week could be a big crash as people start selling as they get the opportunity.

this type of strategy is more like the "blank month is a rising month" strategy that many had over the past couple of days and were disappointed every time! (blank is most of the months in a year but mainly from February to August)

You can't really correlate days when to buy and sell your stash.

So it really up to you to decide when to sell your Bitcoin, specially when you see profits already. This is not a exact science, and we all know that as a speculative asset, the price could really change in an instant, so if you think you already made a good profit, then why wait for a certain day to sell? It doesn't make any sense at all. I guess you really need to be active watching the price movements to see what is the perfect time for you to maximize your profits.

The whole strategy was purely based on the movements happened on a specific day which isn't a good idea to act as a reference when to buy or sell.

Generally;
Buy on what you think the best time to make an entry.
Sold on what you think the best time to make an exit.

The whole crypto market is volatile. No way it will always adjust for all during Mondays and Friday. Instead of relying on that Monday thing, think of a strategy that will help us any day of the week. But if that's work for other people, then up to them to hold that market belief.

You are saying that there is a permanent trend that is easily to follow, no, I don't believe on that, otherwise this market would easily be predicted and we won't see people complaining on why they lose their money.

Actually I read about this kind of article in the past, before the last bull run and I was still not convince as anytime the price would move depending on what pushes it to move, better analyze the news and the speculation in the market as both are two major factors that could really change the price.

If we could see that way of how the market trend goes on, it makes us think that the market is purely manipulated and centralize. BUT it won't, and it may just a coincidence that this week's trend is quite similar for the past week and it doesn't mean that in the whole month we are in the same. It gives us a surprise for sure and I really don't think that people will have a synchronize thinking of selling their coins on Monday and buy back again by Friday.

And I know that people come to crypto without that consideration and they buy cryptos at different times or days. If this could be reliable, then we have to check it back next month to prove if the trend is working the same.

Quote from: Sanitough on February 17, 2020, 10:34:19 PM

Of course, it's easiest to say that the cryptocurrency market is unpredictable and this way you can beat down any theory. Most users will probably agree with you.

Statistically, this theory is correct. During the bull run it was much more likely to earn on increases by buying on Monday and selling on Friday. At this point, it is better to buy on Friday and sell on Monday, which would confirm that recent increases are not the beginning of the bull run.

I am not saying that this is a rule that will work every week, but statistics speak for themselves.

People who say buying on Friday and selling on Monday, in my opinion it is a trader who does not really understand about technical analysis or fundamental analysis, it's just that people judge in terms of the average decline on that day and may buy it by chance on the day That friday.

Because basically the increase or decrease in the price of Bitcoin is not determined by a particular day, but because the highest or lowest point has been reached and sometimes due to news about the prohibition of Bitcoin in large countries around the world.

I think this is only a co incident but won't occur at all weeks . There are weeks that will be normal , no extra ordinary movement when it was already on friday but there are weeks that prices are on hyped even if it not Friday .

But this can also be true because some people have a money on normal days and they can buy coins but they save before Friday because they want to chill out and spend the time on bars to party and stuff like that so they don't have the ability to buy a crypto .

Every streak, winning or losing, will end, sooner or later. If you don't believe me you are free to try it. Gambling or trading, any kind of scheme you can think of will not work forever. People try to find patterns everywhere, a strategy that will work in a long run, but all they do is trying. Some strategy will work for some period of time, but losing streak can wipe out your balance when it comes.
Same is with this strategy, maybe you will make profit this and next week, maybe you will make profit entire month with this strategy, but next month losing streak is waiting for you if you continue with the same strategy, you can lose your profit and more.

Quote from: stompix on February 17, 2020, 09:31:28 AM

Quote from: NeuroticFish on February 17, 2020, 06:58:11 AM

The research is just getting the average price obviously it is not going to work all the time as you can see in the graph, it was just a statistics but it could be useful if we have statistics to compare.

Still, we need to analyze the whole market to understand the movement of the bitcoin market price but these statistics could be your basis in my opinion. :)

but according to the last dump it happens in friday and just tonight
that market recovers.so i don't think it is appropriate to just rely
on Days of buying and selling because market is not moving in
same direction weekly.
better always look or check the market before selling or consider
the semi longterm holding if we are talking about safer investing.
i have been checking market from time to time this year yet no
indication that we can be sure of what the topic says so still invest
with our own risks.

Just like i said before this method usually using by forex traders when they review their weekly profit on friday and starting to buy again on monday so that's why on friday the price are more likely to down because majority people sell their assets and on monday the price will goes up again because people are more likely to buy and although this method could works once or more if used but i don't think it can use repeatable because crypto market was different and more volatile than forex market

Quote from: sayaya17 on February 19, 2020, 07:28:21 AM

I think there are many who experience difficulties and losses in trading crypto even though they have done technical or fundamental analysis, even though this method is really helpful, but in the end there will be a day where we will lose and sometimes all profits will disappear instantly.

I think this is just a coincidence that on Friday the price is cheap and Monday is expensive. We must not make it as a benchmark that Friday must be Buy and on Monday have to sell it. The world of trading really requires the good knowledge by learning technical and fundamental analysis techniques.

Its better to buy base on what you see in the market regardless what day it is because we cant pin point the usual day as the best time to buy. It can be a coincidence but it wont happen continuously as your guide on when to buy and sell.

This analysis that comes from "experts" are not reliable since no one can accurately predict the price. Conduct your own analysis to better understand the flow of the market, that would be much better rather than following their predictions without concrete basis.

This is more of a short term trading goal and I do not mind it but bitcoin is something that can gain so much in the long run that looking at just a 3-4 day spread would really hurt your chances of making any profit at all. Normally if you buy bitcoin at the first day of the year and sell it at the end of the year there is a 90% chance you will make a profit, sure in the 2018 one that would mean you would lose a lot of money but aside from that year I can't remember a single year where it would be really hurtful for your profits.

If you want to day trade that is fine but do not limit yourself to just couple of days, look at a bigger picture of what it could be and buy when it hits bottom and sell when you feel it peaked, that way you can remove all other data and just focus on the potential profits.

Its not that simple sadly, it has been the case strangely at times that a rule like this works. But its temporary or coincidence, a free market is self defeating (to simple speculation) in a way I cant properly describe but its part of why capitalism serves society not the other way round as some do argue and believe.

I would say we are negative and developing from here, stop 9700 to shorts. Overall I rate Weekends (https://youtu.be/ygTZZpVkmKg) as a positive bias, there is a reason for that and it'd be lower volume. If any event occurs over those two days its not true and I guess lots of the world view these two days differently though its quite universal to do most main market deals on 5 main days of the week and all forex rates are fixed for sat and sun so far as I know.

https://talkimg.com/images/2023/06/12/A9ynI.png

Quote from: lienfaye on February 19, 2020, 08:27:28 AM

This analysis that comes from "experts" are not reliable since no one can accurately predict the price. Conduct your own analysis to better understand the flow of the market, that would be much better rather than following their predictions without concrete basis.

the problem is that the real experts will never waste their time spreading their "predictions" and analysis of the market to the public because there is no benefit in it for them. only those who have no skills in the market itself and need other ways to make money start releasing their so called "predictions" all over the internet.
otherwise if you could find a real expert and consult them you'll see how different your views of the market would become.

Some people say so, and I commend the data provided. But still, I would more look into "season" for investment over day of investment since I am into long term holding than short term. This could be applicable in trading wherein prices are more monitored in order to come up with a good trade. But I do doubt that things will be consistent on both friday and monday market price.

Quote from: mahilchii on February 20, 2020, 06:03:34 PM

Guys this is not a right way of buy and sell in crypto currency, just in two days you cannot expect a demand in the market. What if the market dumps suddenly on Monday? I will say this is purely depend on luck also you can even lose your money as well, First we need to analyse the market and then we have to plan according to it. Short term investment are always risky, so it's better to opt for a good time to sell.

It could work on short term investment, to be honest but I won't say that it would happen everytime. Consistency is absent in this industry. There could be instances that will prove the efficiency of this strategy but for sure it won't be all the time.

Quote from: flyer88 on February 19, 2020, 08:14:17 AM

Quote from: sayaya17 on February 19, 2020, 07:28:21 AM

I do thought of the same way at first but periods on the data provided have shown some point that it could really work that way for short term investors. Maybe it is not pure coincidence and if ever the price increase and decrease that way, trying it would be beneficial. Also , this topic is just a recommendation and it still depend to you whether to do the same thing or not.

Movements changed and no specific time when to pump or dump,those graphs might indeed but in some instances only because if this is true then for sure all of us is making money every monday?
And there will be no Longterm holders because there is simple way to profit.

Quote from: ethereumhunter on February 19, 2020, 11:09:39 AM

That could happen, but that cannot be a sign for us to buy on Friday and sell on Monday because the market will not move the same every week. We still need to watch and analyze the market to find a good time and the best price to buy and sell even if the movement almost the same as a week ago. But if you still want to do that, I think you should analyze more to find by yourself because I am still not sure about that.

Maybe OP is pointing that there is a chance but no assurance,and besides we still need to watch market always for updates specially for our altcoins as well.

Quote from: exstasie on February 19, 2020, 11:27:13 PM

The past week is a good case in point for why you should never put stock into these "patterns":
~

Buy on Friday, sell on Monday? I sure hope you didn't! :P

What a regretting situation you have there pal. :D
I dont know why there are people who do believe on patters on weekly basis.When they do observe that friday is the best day to buy and sell it on monday then they do already
stick out to that kind of pattern which doesnt even think twice that all things are just pure coincidence into this market which nothing is fix or guaranteed to happen from time to time.
Lucky for those who do buy on friday and sell on monday but this is just temporal.

Quote from: criza on February 18, 2020, 08:23:45 AM

I keep on seeing post like this that relates the movement in the price of Bitcoin from the days in a week. But, I don't really believe something like this because, there are really no laws and concepts that would prove that the value of Bitcoin or other crypto currency is high or low in a specific day.

No one totally proves the movement (a certain price) of every cryptocurrency unless it was a stable coin. The price of bitcoin is always being discussed here especially the time that it hit again 10,000$. Even if you speculate and do deeper analysis about its price, still the result will have a chance to change. If you're going to buy on Friday when the price is higher later on if the price went dump do you think you will sell it? I guess probably not because you already lose some portion of your capital. Don't rely too much on other speculation and analysis. It's always better to do your assumption about this and don't lose your sight on the price if you intend to enter and to exit.

Quote from: NeuroticFish on February 17, 2020, 06:58:11 AM

Quote from: Asuspawer09 on February 17, 2020, 03:01:20 AM

The researcher found that the average lowest price of bitcoin was at 6 am UTC time on Fridays and the best time to invest or buy bitcoin.

Really not a good business because bitcoin volatility does not depend on the days of the week, it is not always that Fridays are good days to buy bitcoin and same with monday. The days of the week doesn't have much effect on bitcoin because the price moves mysteriously.

I appreciate your efforts in coming up with thread as it might be helpful for many and some might use this logic when they are not sure about buy/sell period but we cannot be dependent on this everytime as crypto is a dynamic domain and this will change every minute so it's better to use these cases into consideration before buying or selling since there has been days when bitcoin have reached rock bottom on Mondays. This analysis might be based on recent fluctuations.

Quote from: NeuroticFish on February 17, 2020, 06:58:11 AM

If you would have done this in the week-end just passed, you would have bought at around 10240$ and sold at 9790$. Not a good business.

Ha, ha, ha funny.
If something like this happens, maybe I won't be able to go home one week in the future, I have to go out on Friday and go home. I have to wait for Bitcoin $ 11,000 to take responsibility for my wife, where do I take the money with me.

OP, your mind is not in my mind, I think the strategy is too excessive, Friday is bought on Monday sold, not like that happened when I was trading on Bitcoin, I have traded within 5 hours of buying the price of 9,000 $ and selling it for 9,500 $ in 5 hours.

your strategy does not seem to apply to me, I have hours and days of experience, not weeks too long, the worst thing is to buy Friday for $ 11000 on Monday for 10,000 $, watch or wait. No, no.

Quote from: Asuspawer09 on February 17, 2020, 03:01:20 AM

Quote from: Asuspawer09 on January 20, 2020, 05:16:25 PM

Monday is the best day for you to buy your bitcoin? ??? ???

Quote from: Asuspawer09 on January 19, 2020, 06:29:59 AM

I have tried to do such research before and my was buying bitcoin 6pm and sell it 6am and it works for sometime but later it started to failed. It will take extremely carefull for one to make consistent profit from a single strategy. Bitcoin is always down at the weekend and buying bitcoin on Monday might be the right thing to do but most Friday I always see bitcoin extremely volatile.

I do not think this technique will always work without proper analysis. Suppose if you buy bitcoin on friday and dump the price, will you be able to sell again at a loss? Now what if everyone follows the same strategy? Then on friday the market will pump huge because all traders will be in buy mode, and on monday the market will dump huge because everyone will be in sell mode. That way the market doesn't go away. If you are a day trader, you need the ability to do the right market analysis.

Quote from: Farma on February 24, 2020, 05:06:02 PM

That's a very good prediction, but I think every day the development of crypto always gives something new, so whether it's Sunday or Monday, if there is a FOMO, or a strong FUD at that time, prices can go down or up quickly. Well, I probably won't determine to buy or sell from the day, I will determine it from the circumstances.

Of course, it can't be guaranteed that this will happen every weekend. This analysis only shows that it is statistically more likely that the price will increase over the weekend than during business days.
However, I was more interested in the fact that this principle is reversed at the time of bear market and bull run.

Quote from: TheAndy500 on February 24, 2020, 11:14:24 PM

Quote from: Farma on February 24, 2020, 05:06:02 PM

Of course, I do not have professional skills in this activity, but nevertheless I managed to notice a pattern in the reduction of cryptocurrency prices before the weekend and immediately from Monday new cryptocurrencies started to rise in price again. But this trend was observed in past years, when the cryptocurrency market was more stable due to investor activity, because the cryptocurrency advertising campaign around the world had a very good result. But since the beginning of 2018, the situation has changed dramatically and even under the current conditions of the cryptocurrency market, it is not always possible to buy cheap on Friday and sell on Monday profitably.

seems legit eh ? what i like is that you provide a chart and some analysis and not just coming up with that theory . i think im going to try this one out and see if it works better on me because before i dont usually follow a strict pattern on when to buy or sell .

i only buy and sell whenever i like and sometime i ended up entering and exiting on wrong times or i cant make the most of my money . i think i can increase my earning potential if i follow some guides like this . well see .

Quote from: logfiles on February 29, 2020, 10:46:09 PM

Not entirely true... I have been following bitcoin prices for weeks every day and in fact sometimes the reverse happens.
When the drop starts on Friday, expect it to go further down even on Monday so this theory will only get you loses if the trend is bearish
Another i noticed is that there are certain hours throughout the day when there is high volatility and low volatility depending on the trend.

Fluctuations always happened in an unexpected scenario, that's why bearish market will normally occurring on that opportunity. You can't do buy and sell if the market changes isn't capable within your timeframe. Being a trader, it's difficult to plan in accordance to your desire to achieve profit, we really need to manage our asset seriously and focusing on strategic analysis.

Quote from: ice098 on February 29, 2020, 11:22:21 PM

Quote from: logfiles on February 29, 2020, 10:46:09 PM

Lots of factors that do really affect your trades and as said it would really be need some serious handling of your asset and proper planning if you do like
to succeed.

I dont really believe on saying or telling that there are particular days which do really need for you to buy and sell yet any day would be the possible day
for you do buy and sell depending on the situation of the market.Lots of people do keep always do tell that there are patterns or somewhat similar movements
which they do apply their basis and use it as their signal.

Quote from: logfiles on February 29, 2020, 10:46:09 PM

Just like this week,the price drops in Friday and until now Sunday prices is still falling so i
guess until tomorrow value will continue to fall like what happened last week.
I think there i no really specifics but in bullrun maybe there are similar situation when at Friday
market is falling and increasing at Monday.
Anyway still the best way is to be ready to absorb the Falling whenever we risk to buy so at least
whatever happens in Monday we will not be surprised.

Yeah, I totally agree that the best case for this type of situation is to not make it a rule. Sure there are many times buying on Friday and selling on Monday would be a great idea and so forth but when it comes down to making it a rule and doing it EVERY Friday to Monday that would be a lot riskier because it can't be true every single week and eventually you would lose money as well.

I personally do this time to time and I do get good results as well as bad results too so I am basically a great example of why you should not consider this a forever thing and constantly do it since I can provide it with my trading history that it doesn't always help you get more profit.

Quote from: rodskee on March 01, 2020, 03:58:03 AM

Just like this week,the price drops in Friday and until now Sunday prices is still falling so i
guess until tomorrow value will continue to fall like what happened last week.

True, i have a very high feeling the drop might just go further in a few hours to come to prove that this Method or analysis isn't accurate. If one is doing margin trading, and they decide to buy on Friday then sell on Monday. They are in for big losses. Maybe a spot trading chap afford to take a hit

This actually worked in 2015-2016 right ? Nowadays it won't work so much as the volume seems to swing from a position to another and you might be caught in this and lose a lot instead of making some but if somehow you know a trick for weekend trading then do it , no one should stop you.

I think the best that work is still buy on prins , sell on summer , buy again when vacations are over and patiently wait for winter to sell again and then repeat next year...this worked also pretty good for previous years.

Quote from: boltz on March 01, 2020, 10:52:02 PM

"Buy on Monday, sell on Friday" worked in 2017 - during the bull run. Here we have an example "buy on Friday, sell on Monday", which looks like it works statistically more often during the bear market.

Quote from: boltz on March 01, 2020, 10:52:02 PM

I think the best that work is still buy on prins , sell on summer , buy again when vacations are over and patiently wait for winter to sell again and then repeat next year...this worked also pretty good for previous years.

Buying at certain seasons of the year is a long-term investment on the cryptocurrency market ;) Here we are talking about a method used more by daytraders.

Last week was completely different from what we had in February and in late January. Because, last Monday bitcoin did not had any new downfall because market already fell down on last Friday itself. Fortunately, today market showed some green % of changes unlike what we had last 2 to 3 days.

Actually I was in plan to make use of this kind of short-term (within a week) trend to trade bitcoins to gain few dollars. But suddenly market reacted differently due to most probably Corona virus. But, I made use of the recent down fall of bitcoin market by buying some at $8500 levels. Still, I will not give up as I will keep on looking for studying the trend so that I could make some short-term trading even I am a true believer of long-term holding.

Quote from: Blackdeath on February 29, 2020, 03:58:01 PM

I also think that this analysis and your theories can be useful in the future because it might not be a coincidence that it is good to buy in friday and sell on monday, so that you won't lose a lot of money and save a lot of money. But there maybe also times that it is not good to buy on friday and sell on monday.

None of the analysis reveals you to buy on Friday and sell on Monday, crypto is a long-term asset. These stuff works in rare scenarios neither this will work in regular basis nor in short term, previously the market situation was flipping up and down in that case it was working out. For me it was like an unexpected journey every week it won't favour you and guys don't think this as a smart move, believe me you will loose your hard-earned money just in this case.

Quote from: tbterryboy on March 03, 2020, 06:39:18 PM

Actually I was in plan to make use of this kind of short-term (within a week) trend to trade bitcoins to gain few dollars. But suddenly market reacted differently due to most probably Corona virus. But, I made use of the recent down fall of bitcoin market by buying some at $8500 levels. Still, I will not give up as I will keep on looking for studying the trend so that I could make some short-term trading even I am a true believer of long-term holding.

It did not come from that coronavirus trend.
It is the volatility of bitcoin that made it move.

We should stop from making excuses using the viral thing that is happening in Twitter or in other social medias.
It ain't because of that.
Bitcoin had been moving without any reason even from the start. Why should it have now?

Quote from: Reid on March 04, 2020, 06:05:40 AM

Quote from: tbterryboy on March 03, 2020, 06:39:18 PM

Well bitcoin moves because at its request not because of the corona virus situation I am sure this is not its influence with the bitcoin market because it only affects the stock market and the global economy, I'm sure bitcoin will go up in time or wait for halving to arrive.

It's right to buy bitcoin under $ 9,000, maybe in the next few weeks it can recover.

Quote from: tbterryboy on March 03, 2020, 06:39:18 PM

Because of volatility of bitcoin that always happens or it was because of corona, we do not have the reasons of every single person who has sold bitcoin in the past 10 days, since we do not have that kind of data we can't really show a proof of why bitcoin went down neither.

However, corona didn't have ANY involvement in the bitcoin price would be disingenuous because corona affected too many things in the world so why shouldn't it affect bitcoin as well? I am not saying bitcoin went down because of corona virus but all I am saying is corona "might" had "some" impact on it, it doesn't have to be 100% corona related but maybe 10% could be affected because of corona going out of china and going into other nations.

Quote from: el kaka22 on March 04, 2020, 06:11:28 PM

Quote from: tbterryboy on March 03, 2020, 06:39:18 PM

Its either a reason or not and we cant be sure and its always been like that and as said there are factors which cant be known on why it do decrease its price.

I dont also believe in sayings about Selling on monday and buying on weekends because its all coincidence when people do able to observe that it do behave that way.

I actually thought this one also in the past but due to this perception i lost up some capital because things didnt go as planned.

Quote from: Reid on March 04, 2020, 06:05:40 AM

Quote from: tbterryboy on March 03, 2020, 06:39:18 PM

We can't associate any of the major factors to link corona virus here, because the situation was really rigid even if that epedimic virus wasn't happening. Sighting for any reason, many speculation had been rising but it still remain unpredictable for such a long period of time. The more issues concerned for bitcoin's volatility, social media information will be trending all over the world and will probably help adoption become more frequent.

This time we don't see if we buy on Friday and sell on Monday is not work because the bitcoin price now is deeper than what we saw on Friday. But this time, we have a good time to buy more bitcoin because the bitcoin price now reaches a lower price than before. We don't know what will happen tomorrow and we can hope that the price will bounce to the higher price so we can sell it for some bitcoin for what we buy today. That is plan A, and I think we need to have another plan to see where the market will go in the next day.

Some sort of parallels could be made with corona when it was going down because we knew that there was a global epidemic that affected the whole world economy and that reflected on bitcoin as well and the price went down.

I am not saying the drop was because of corona virus but all I am saying is, if anyone wanted to say that we couldn't really proved them with any data that it wasn't.

However, when the stock markets are crashing and economy collapsing, bitcoin recovered a bit and now over $9k once again, which could be used to prove that corona has nothing to do with bitcoin anymore. I mean look at bitcoin markets (or crypto in general) and tell me that it is not getting better. While the markets are getting better, corona is still out there killing more and more people.

Its impossible to copy other peoples trades, this OP theory isnt proved incorrect. What could still be true is there is an ongoing bias for the weekend that on average but not always, that weekends are more positive. In context that fits the current pricing, I was viewing price action until we opened in Japan as doing well, however we've just lost the 50 day MA challenge & finding it to be a top then crashing through 200 day MA losing a well observed positive.

It does seem now that negatives have to be considered ongoing, serious and repeatedly a threat. The ghost of Tone Vays haunts this price action, his haircut was too powerful and he is a true warlock able to command whales at will it seems :p

https://talkimg.com/images/2023/06/12/A9upD.png

Bitcoin Forum

Economy => Speculation => Topic started by: Asuspawer09 on February 17, 2020, 03:01:20 AM