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Author Topic: Mt. Gox flatiner......  (Read 1010 times)
Bitman_Begins
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July 09, 2011, 06:34:29 PM
 #1

By the title I don't mean to imply that it's dead or dying...far from it! However, we've been seeing mostly flatlining this past 48 hourss, with a couple of small bubbles? Can anyone tell me why? I am still a beginner to this, so I can't really tell what is causing this? Is it true prices always go down over the weekend, and then return in midweek?
Also, I guess how low will it go? is a good question... and what and when will be the next max! Gosh, if only I knew what the factors affecting prices were!  Grin

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July 10, 2011, 10:33:48 PM
 #2

However, we've been seeing mostly flatlining this past 48 hourss, with a couple of small bubbles?

you didn't wait long enough  Smiley

Is it true prices always go down over the weekend, and then return in midweek?

not always. and when they do they return a lot sooner than midweek.   now it seems like buying on saturday night gets about the best price of the week.

Also, I guess how low will it go? is a good question... and what and when will be the next max!

your guess is probably as good as anyone else's.

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July 10, 2011, 11:24:37 PM
 #3

Saturday and Sunday aren't banking days, so it's tough to get USDs into Dwolla/Mtgox, but easy to get bitcoins in. So volume is naturally lower, and if someone does place a large sell order, it could cause a sudden drop in price that's slow to correct. More people may be figuring this out and are holding money in Dwolla for the weekend to buy and avoiding putting in a large sell order in on the weekend if they're trying to sell.
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July 11, 2011, 12:05:27 AM
 #4

I think the free trading by Mt Gox has stabilized the price.  Lots of people are putting in orders just below the price and just above to make a quick and easy profit off of regular volatility.  I think once the free trading craze wears off you'll see volume slow a little as well as a little more fluctuation in price.  I for one think it's good for the BTC economy to finally be showing some price and difficulty stability.  The days of huge difficulty increases and ridiculous price appreciation are behind us, at least speaking relative to percentages.

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July 11, 2011, 12:27:28 AM
 #5

two words. Trade Hill.
DonnyCMU
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July 11, 2011, 12:32:00 AM
 #6

Definitely not a flat liner... Last morning, a lot of (manipulated?) activity driving price up and down:
- $40k buy
- $150k bid wall at $15
- $80k buy
- first wall disappear, $100k wall at $15.5
- price spike
- wall disappear, price plummet.
- wall appear again at $15
- wall being tear down
- wall disappear
- now it's back where it started.

It's one good ride.
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