IggySe7ven (OP)
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Merit: 29
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March 31, 2013, 05:58:06 AM |
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hey guys, this a chart from chainwallet. Its shows trade volume in USD dollars. Throughout April 2012 to March 2013 it was between 0.5 millions USD and under 2 million USD. From Early to end of March it climbed and peaked around 14 million and after that just now it drastically within couple of days droped back to under 2 million USD. What does this chart tell us and does this mean that the price will start droping because the price is still rising. Here is the chart. Thanks Bitcoin Community https://blockchain.info/charts/trade-volume |
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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Luno
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March 31, 2013, 06:05:42 AM |
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The 4 days of easter + weekend certainly have an effect Currency, metals and stocks also have no volume!
So yes, there is no price action and massive walls that mask any clues on how the market is going to react Monday, Tuesday, so this is one of these times when you just place a bet and cross your fingers!!
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dree12
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March 31, 2013, 10:54:32 PM |
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The most recent 7-day average is also inaccurate, as it is also a partial-week. No matter what average is used, one should always consult the second-most recent datum. |
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sharukhshani
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March 31, 2013, 11:56:02 PM |
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so its change on daily baises
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Gator-hex
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April 01, 2013, 01:26:20 AM |
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When the price goes up and there is volume behind it, it means it's a genuine price move.  |
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nitrous
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April 01, 2013, 02:06:29 AM |
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Volume is the amount of currency traded in a given time period. It tells you how active the market is, and can indicate its volatility. Volume on its own won't tell you whether price will go up or down, however an usually large volume order will affect the price - buy orders will tend to push prices higher, and sell orders will make prices fall. So, if you know when a large volume order will happen, and whether it's buy or sell, you can predict that the price will go up or down, but you need other data to predict when these orders will hapen and what type they'll be.
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DeathAndTaxes
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Gerald Davis
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April 01, 2013, 02:18:35 AM |
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The most recent 7-day average is also inaccurate, as it is also a partial-week. No matter what average is used, one should always consult the second-most recent datum. It is a rolling 7 day average. There is no such thing as a partial week. At 23:59:59 on Tuesday the 7 day average will still be a full week (from Wednesday through Tuesday). To the OP the point about Easter weekend is important. We have seen our volume decline significantly as well. It is a long weekend, many people taking time off to spend time at family gatherings. Any major holiday is going to distort the data compared to "normal" weeks. |
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dree12
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April 01, 2013, 02:26:17 AM |
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The most recent 7-day average is also inaccurate, as it is also a partial-week. No matter what average is used, one should always consult the second-most recent datum. It is a rolling 7 day average. There is no such thing as a partial week. At 23:59:59 on Tuesday the 7 day average will still be a full week (from Wednesday through Tuesday). To the OP the point about Easter weekend is important. We have seen our volume decline significantly as well. It is a long weekend, many people taking time off to spend time at family gatherings. Any major holiday is going to distort the data compared to "normal" weeks. The 7-day average includes the last datum, which is a partial day. Although the effect of this partial day is lesser when averaged with 6 complete days, it's still best to take the penultimate datum. |
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