Bitcoin Forum
May 07, 2024, 11:13:11 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Weekend Price Drop  (Read 511 times)
Poryhack (OP)
Newbie
*
Offline Offline

Activity: 1
Merit: 0


View Profile
March 21, 2013, 01:23:16 AM
Last edit: March 21, 2013, 01:56:41 AM by Poryhack
 #1

When I bought my first bitcoins in August of last year there was a very pronounced pattern of significant lulls in price/volume on weekends, presumably because people had a harder time moving money on those days.

Looking at the last month's graph on MtGox I see that price has remained stable through each of the last 4 weekends. Why the change? I suppose this is inevitable as bitcoin gains legitimacy (not entirely fitting but best word I can come up with here) as a currency, but I'd like to hear your thoughts on the matter.
The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1715123591
Hero Member
*
Offline Offline

Posts: 1715123591

View Profile Personal Message (Offline)

Ignore
1715123591
Reply with quote  #2

1715123591
Report to moderator
1715123591
Hero Member
*
Offline Offline

Posts: 1715123591

View Profile Personal Message (Offline)

Ignore
1715123591
Reply with quote  #2

1715123591
Report to moderator
Maged
Legendary
*
Offline Offline

Activity: 1204
Merit: 1015


View Profile
March 21, 2013, 01:34:53 AM
 #2

It's not so much that buying pressure goes down as it is volume in general goes down. This thread might be of interest to you:
https://bitcointalk.org/index.php?topic=63312.0

Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!