Bitcoin Forum

Economy => Speculation => Topic started by: delson on August 08, 2011, 02:41:04 PM



Title: Where is the Monday rally?
Post by: delson on August 08, 2011, 02:41:04 PM
Shouldn't it have happened by now, as new money is beginning to flow into accounts?


Title: Re: Where is the Monday rally?
Post by: coined on August 08, 2011, 02:48:36 PM
I don't think its ever been consistent, IT happened a few weeks in a row a while back, and people noticed, then people just kept the idea going talking about the weekend dip's like an urban legend or something, and without checking thats its not consistant or predictable at all anymore,  some of our biggest rally's were during the weekends.


Title: Re: Where is the Monday rally?
Post by: Piper67 on August 08, 2011, 02:51:24 PM
It also tends to be more of a Tuesday/Wednesday phenomenon, as that's when the fiat currencies make it into the exchanges.


Title: Re: Where is the Monday rally?
Post by: Edward50 on August 08, 2011, 02:55:04 PM
The rally did happen, it high into the $8's, with people putting up bid walls into the $7's. This may not seem like a rally when you expect last month prices, but with the current state of bitcoin, this is a rally for sure. Expect it to hold for a day or so then start dropping again.


Title: Re: Where is the Monday rally?
Post by: Nagle on August 08, 2011, 04:02:52 PM
http://bitcoincharts.com/charts/chart.png?m=mtgoxUSD&t=S&height=320&width=750&r=60

When there's a big drop, there's usually a bounce back the next day or two. But not a "rally"; the bounce only recovers about half of the big drop. The long, slow slide then resumes. This has been the pattern since the bubble burst.


Title: Re: Where is the Monday rally?
Post by: JBDive on August 08, 2011, 04:13:10 PM
I was actually expecting a price drop today and had buy order in at under $6. I've moved that up a tad but really would like to see it drop just under $6 which should bring a nice bounce back to $8 or higher fairly quickly. I also like seeing those network hash rates drop which it certainly does at the lower prices.


Title: Re: Where is the Monday rally?
Post by: Cluster2k on August 09, 2011, 02:49:57 AM
It also tends to be more of a Tuesday/Wednesday phenomenon, as that's when the fiat currencies make it into the exchanges.

I've been reading this same point on the forums for many weeks now: The price falls on weekends, traders don't have money in their accounts to buy bitcoins therefore need to wait until Tuesday or even later to top up their balance before being able to buy bitcoins.  Sometimes this argument is mixed in with complaints about delays with Dwolla.

Problem is, this doesn't make sense.  Why not keep money in the exchange ready for the dips?  Only reason not to do that would be lack of trust in the exchange, in which case it's not worth trading at all there.


Title: Re: Where is the Monday rally?
Post by: bitcon on August 09, 2011, 03:58:00 AM
people don't have enough patience to keep their money ready for dips.


Title: Re: Where is the Monday rally?
Post by: Oldminer on August 09, 2011, 11:17:55 AM
lolz

Can someone please explain wtf is going on out there atm?

kthxbye


Title: Re: Where is the Monday rally?
Post by: MrAnderson on August 09, 2011, 11:20:04 AM
FFS $9.75

The moment I get in on the rise / fall stability ride it f**ks off north!

 >:(


Title: Re: Where is the Monday rally?
Post by: dalamchops on August 09, 2011, 11:25:29 AM
lolz

Can someone please explain wtf is going on out there atm?

kthxbye


someone just thinks btc is worth more than $7.


Title: Re: Where is the Monday rally?
Post by: phorensic on August 09, 2011, 12:16:38 PM
It also tends to be more of a Tuesday/Wednesday phenomenon, as that's when the fiat currencies make it into the exchanges.
Yep, for weeks it's been a Tuesday rally pattern.


Title: Re: Where is the Monday rally?
Post by: Cluster2k on August 09, 2011, 12:49:50 PM
Rebecca Black says the rally is on Friday.  Friday, Friday.


Title: Re: Where is the Monday rally?
Post by: payb.tc on August 09, 2011, 12:51:35 PM
Rebecca Black says the rally is on Friday.  Friday, Friday.

hahahaha that's the day after thursday.


Title: Re: Where is the Monday rally?
Post by: vulgata on August 09, 2011, 01:24:32 PM
Rebecca Black says the rally is on Friday.  Friday, Friday.

hahahaha that's the day after thursday.

Fuck both of you guys, now it's going to be stuck in my head all day.  And it's not even FRIDAY.


Title: Re: Where is the Monday rally?
Post by: payb.tc on August 09, 2011, 01:30:43 PM
Rallyin’, rallyin’ (Yeah)
Rallyin’, rallyin’ (Yeah)
Gox, gox, gox, gox
Lookin’ forward to the weekend


Title: Re: Where is the Monday rally?
Post by: Cluster2k on August 09, 2011, 01:37:35 PM
Rebecca Black says the rally is on Friday.  Friday, Friday.

hahahaha that's the day after thursday.

Fuck both of you guys, now it's going to be stuck in my head all day.  And it's not even FRIDAY.

Kickin' in the up tick
Sweatin' out the down tick
Gotta make my mind up
Which trade can I take?


Title: Re: Where is the Monday rally?
Post by: kiwiasian on August 09, 2011, 02:48:50 PM
Hm probably should have bought more yesterday at 7.7....then agin I don't have a lot of money

As of this writing the current worth is 10.5 per


Title: Re: Where is the Monday rally?
Post by: JohnDoe on August 09, 2011, 02:58:20 PM
Rebecca Black says the rally is on Friday.  Friday, Friday.

I don't care if Mondays black
Tuesday, Wednesday - heart attack
Thursday, never looking back
It's Friday, I'm in love


Title: Re: Where is the Monday rally?
Post by: hmblm1245 on August 09, 2011, 03:06:03 PM
It became a Tuesday rally


Title: Re: Where is the Monday rally?
Post by: Kermee on August 09, 2011, 08:09:04 PM
Rebecca Black says the rally is on Friday.  Friday, Friday.

I just snorted my afternoon coffee through my nose.  WP.

Cheers,
Kermee


Title: Re: Where is the Monday rally?
Post by: Bitcoin Swami on August 09, 2011, 08:34:17 PM
Some serious volume today.  Definitely in teh top 10