Bitcoin Forum

What is the reasoning for weekends usually dumping coins?

Maybe people looking to cashout and spend it on weekend holidays :P
Or maybe because, there isn't a lot of action during weekends, and price usually doesn't increase and is stable for most of the part. Traders probably like cashing out at the price to buy back in on Mondays.

Of course people dumping when the week is over... Mining operations who need to pay their utility bills. Also a lot of people take a break at the weekends and the action dies down. The biggest reason should be that SEPA payments don't clear over the weekend and thus no new money can flow into the market at that time!

That stuff makes sense, ironically it dropped as soon as i made this thread lol

Banks usually don't work in weekends. People have free time in weekends (well, most?), it's simply time to spend some money, becuse of fun, becuse of boring time. Bitcoin is a currency so people spend it...

Do you suspect they spend their BTC over the weekend? I think they may just want to take some time off the ride and maybe sell their coins in order to be "safe" and don't keep thinking about the price too much...

less volume, less people paying attention

Perfect time to create a panic sell

Could also be... Whales trying to trick people into panic-selling their coins. I wonder whether this is going to change if when we now enter a steady bull-market again. The dump that just happened effectively got bought back immediately!

I also believe that it is due to the stopping influx of new FIAT money to the exchanges. There's no new money coming in, only money being scheduled for withdrawals off of the exchanges. That's why mondays tend to be interesting, both buying- and selling-wise!

makes sense what you said. well observed.

All of the above, plus:
When the tendency gets "too predicable", you start to see strong rallies on some weekends.

Yep, like clock work, it's started to decline, $231 right now and going down.

Last big drop happened mid week(the one that made the prices go to 160)

Also there was not weekend dump this week

$229 and counting down. It's almost comical how the dip happens right on time for the weekend.

LOL prices were around 227 few hours ago.

And now are around 231.

Guess no dump, at least now

LOL, btc price is $229 still but the trend is DOWN. Look at the chart yourself. BTW, I'm basing on bitfinex price not bitstamp's fictional number. But, even at bitstamp, the trend is clearly DOWN at the moment.

1h and shorter are either buylish or neutral

Yeah?  Are you short on leverage then?

Trend's yo friend!

I asked myself earlier the same question. Is there any possibility that the bear whale purposely have it done during the weekend so that we don’t have the chance to react. Most people presumably the bulls are on weekend holiday

It was just to scare some people :P Prices back up now. And 4$ isn't really that big of a dump.

Yep, someone wanted to keep the rumor alive, but I woke up and saw we were at $236, so no impact.......yet

Doesn't make sense as it takes at least a few working days to get money back from an exchange.

Currently there is not really a weekend dump as the price has had a few beatings already.

Look at the volume and the action going on - on a freaking Saturday!!! We've just begun the next chapter of Bitcoin going all Honey Badger again. This is so exciting, I can't sleep :D The volume is just incredible!

same thing applies to bull manipulation.

Too much volume for Saturday...

Looks like there is actually a pump rather than any dump this weekend.

No bank wires coming to exchanges.

There's no such thing as too much volume :)
Looks like it's a bit calmer now, but all the movement is probably the result of bitcoin hitting the news the past few days.

Is that because buy orders won't be enough ?
Other than that another reason would also be people cashing out to spend on different places.

I am yet to see precise statistics that show that the price is going down in week ends.

More like weekend lumps these days :P

Even when "weekend dumps" were highly predicable/consistent, you (usually) needed to be Long again before the end of Sunday afternoon.
Who's ready to lead the way and start buying now!

i don't think the faact that is weekend matter, it's all a bit random, this time no dumping went through, but instead a nice rise

The fact that there have been some dumps but the price didn't care is a very interesting and positive thing to note! Even minor dumps were enough to scare people in the past. Now it seems the price has gained a whole new momentum and summoned unknown strength from somewhere!

The explaination is simple, payment processing companies and other ones that accept bitcoin dump once a week most of the times.

If it survives the first 3 days of the following week we may be actually on the begining of a decent uptrend. Expect corrections tho, but if you have balls you can short and win some coins.

I wouldn't be confortable to short now as I except the price to rise.

I do not think so. Your source?