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thresher (OP)
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January 23, 2015, 10:51:19 PM |
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What is the reasoning for weekends usually dumping coins?
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cheekychap
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January 23, 2015, 11:01:10 PM |
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What is the reasoning for weekends usually dumping coins?
Maybe people looking to cashout and spend it on weekend holidays  Or maybe because, there isn't a lot of action during weekends, and price usually doesn't increase and is stable for most of the part. Traders probably like cashing out at the price to buy back in on Mondays. |
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HarmonLi
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Honest 80s business!
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January 23, 2015, 11:07:29 PM |
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Of course people dumping when the week is over... Mining operations who need to pay their utility bills. Also a lot of people take a break at the weekends and the action dies down. The biggest reason should be that SEPA payments don't clear over the weekend and thus no new money can flow into the market at that time!
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thresher (OP)
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January 23, 2015, 11:13:39 PM |
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That stuff makes sense, ironically it dropped as soon as i made this thread lol
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Dexter770221
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January 23, 2015, 11:14:45 PM |
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Banks usually don't work in weekends. People have free time in weekends (well, most?), it's simply time to spend some money, becuse of fun, becuse of boring time. Bitcoin is a currency so people spend it...
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Under development Modular UPGRADEABLE Miner (MUM). Looking for investors.
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HarmonLi
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Honest 80s business!
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January 23, 2015, 11:17:20 PM |
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Banks usually don't work in weekends. People have free time in weekends (well, most?), it's simply time to spend some money, becuse of fun, becuse of boring time. Bitcoin is a currency so people spend it...
Do you suspect they spend their BTC over the weekend? I think they may just want to take some time off the ride and maybe sell their coins in order to be "safe" and don't keep thinking about the price too much... |
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jaberwock
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January 23, 2015, 11:36:05 PM |
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less volume, less people paying attention
Perfect time to create a panic sell
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HarmonLi
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January 23, 2015, 11:38:40 PM |
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less volume, less people paying attention
Perfect time to create a panic sell
Could also be... Whales trying to trick people into panic-selling their coins. I wonder whether this is going to change if when we now enter a steady bull-market again. The dump that just happened effectively got bought back immediately! |
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minerpumpkin
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January 23, 2015, 11:43:26 PM |
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I also believe that it is due to the stopping influx of new FIAT money to the exchanges. There's no new money coming in, only money being scheduled for withdrawals off of the exchanges. That's why mondays tend to be interesting, both buying- and selling-wise!
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I should have gotten into Bitcoin back in 1992...
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mlferro
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January 24, 2015, 01:28:10 AM |
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What is the reasoning for weekends usually dumping coins?
Maybe people looking to cashout and spend it on weekend holidays Or maybe because, there isn't a lot of action during weekends, and price usually doesn't increase and is stable for most of the part. Traders probably like cashing out at the price to buy back in on Mondays. makes sense what you said. well observed. |
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Bit_Happy
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January 24, 2015, 01:30:53 AM |
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All of the above, plus:
When the tendency gets "too predicable", you start to see strong rallies on some weekends.
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stonerider
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January 24, 2015, 01:35:15 AM |
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Yep, like clock work, it's started to decline, $231 right now and going down.
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Omikifuse
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January 24, 2015, 02:04:43 AM |
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Last big drop happened mid week(the one that made the prices go to 160)
Also there was not weekend dump this week
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stonerider
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January 24, 2015, 02:18:08 AM |
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$229 and counting down. It's almost comical how the dip happens right on time for the weekend.
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Brewins
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January 24, 2015, 02:21:57 AM |
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LOL prices were around 227 few hours ago.
And now are around 231.
Guess no dump, at least now
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stonerider
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January 24, 2015, 02:33:03 AM |
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LOL, btc price is $229 still but the trend is DOWN. Look at the chart yourself. BTW, I'm basing on bitfinex price not bitstamp's fictional number. But, even at bitstamp, the trend is clearly DOWN at the moment.
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Brewins
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January 24, 2015, 02:51:35 AM |
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LOL, btc price is $229 still but the trend is DOWN. Look at the chart yourself. BTW, I'm basing on bitfinex price not bitstamp's fictional number. But, even at bitstamp, the trend is clearly DOWN at the moment.
1h and shorter are either buylish or neutral |
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dropt
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January 24, 2015, 04:00:35 AM |
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LOL, btc price is $229 still but the trend is DOWN. Look at the chart yourself. BTW, I'm basing on bitfinex price not bitstamp's fictional number. But, even at bitstamp, the trend is clearly DOWN at the moment.
Yeah? Are you short on leverage then? Trend's yo friend! |
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Q7
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January 24, 2015, 05:27:59 AM |
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I asked myself earlier the same question. Is there any possibility that the bear whale purposely have it done during the weekend so that we don’t have the chance to react. Most people presumably the bulls are on weekend holiday
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caga
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www.secondstrade.com - 190% return Binary option
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January 24, 2015, 09:49:33 AM |
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LOL, btc price is $229 still but the trend is DOWN. Look at the chart yourself. BTW, I'm basing on bitfinex price not bitstamp's fictional number. But, even at bitstamp, the trend is clearly DOWN at the moment.
It was just to scare some people Prices back up now. And 4$ isn't really that big of a dump. |
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