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Title: Maybe it's just because it's late Post by: Findeton on June 04, 2011, 11:27:08 PM Perhaps it's silly, as I'm new to bitcoin and to currency trading so i'm sorry if this sounds stupid: Perhaps when night arrives people just leave their ask orders in mtgox and go to bed/whatever, and as there's more people bitcoin hungry they buy at those prices. Ask orders are mostly not updated because they are mostly sleeping so buyers just keep rising the price.
Then you wake up and bitcoin has moved from $14.2 to $17.4. Title: Re: Maybe it's just because it's late Post by: Meni Rosenfeld on June 04, 2011, 11:51:01 PM People use bots, and "night" is relative, so I don't think the effect you're describing is strong.
Title: Re: Maybe it's just because it's late Post by: jjVon on June 05, 2011, 01:03:06 AM People use bots, and "night" is relative, so I don't think the effect you're describing is strong. Kinda my thought as well. There do seem to be spurts of pricing. If you look at the charts available, there can be wide swings. Although the charts and 'current price" are the most recent closed sale, not based on when the sale was originated.Title: Re: Maybe it's just because it's late Post by: NetTecture on June 05, 2011, 04:33:03 PM People use bots, and "night" is relative, so I don't think the effect you're describing is strong. I dont think many real buyers use bots. Traders do. Miners may to sell, but retail buyers will NOT. Don't forget that a lot of the infrastructure for trading is offline on weekends. Including the ability to SEND MONEY IN - you can then only buy with the money already there. |