Strange things happens to bitcoin on Fridays ?

derigop

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Quote from: Silentsweeper on February 16, 2018, 02:54:08 AM

Have you also noticed that the bitcoin price takes a small dip every Friday. Can we discuss why this is happening ?

Could it be that people are cashing out bitcoin to enjoy there weekend or are they simply less likely to trade on a Friday ?

Some private companies close early on a Friday and people are then less likely to trade bitcoin. Huh

I think it is just coincidence. Bitcoin and other cryptocurrency are unpredictable. Every time passes the bitcoin changes and the other cryptocurrency too. That is how trading industry works.

ChickenDuck

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Maybe short terms investors try to cash out before weekend to avoid crash in the weekend as they will not have time to monitor the price.

Quote from: Silentsweeper on February 16, 2018, 02:54:08 AM

Have you also noticed that the bitcoin price takes a small dip every Friday. Can we discuss why this is happening ?

Could it be that people are cashing out bitcoin to enjoy there weekend or are they simply less likely to trade on a Friday ?

Some private companies close early on a Friday and people are then less likely to trade bitcoin. Huh

Angletim

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Quote from: Silentsweeper on February 16, 2018, 02:54:08 AM

Have you also noticed that the bitcoin price takes a small dip every Friday. Can we discuss why this is happening ?

Could it be that people are cashing out bitcoin to enjoy there weekend or are they simply less likely to trade on a Friday ?

Some private companies close early on a Friday and people are then less likely to trade bitcoin. Huh

This is an interesting thing, and I didn't find this interesting before you said it. If I do, then I may follow this rule to operate my bitcoin. I believe I can get a lot of profit.

talkbitcoin

legendary

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All I know is that I know nothing.

for that to be true it needs to happen every week not happening 2 weeks then not happen for 4 weeks then another week and so on. and in reality that is what's happening and it has nothing to do with Fridays or any other day of the week.

generally the weekends are a bit slow but that is all. don't try to look for patterns that don't exist.

thirdkiller

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tweetbit

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There’s a little bit true in your observation as it might be the weekend rush and the spending frenzy of smaller investors who cash out particularly as the price is on a bitter stand this week. An special holidays like this as a much longer weekends getaways is always be a trend.

bug.lady

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Quote from: Nerkata on February 16, 2018, 03:00:15 AM

Actually I don't believe there are patterns in crypto. because due to the pattern people would react in advance to them thus keeping them from happening.

No you can't claim that people trying to exploit patterns neccessarily make the very patterns disappear. Each year around Christmas and end-of-the-year the price goes up and it has been happening a few years in a row. You can take advantage of it. Some people will sell. But new people hear about bitcoin and come to the market and buy and the prices rise even more.

So people taking advantage of a pattern don't make it obsolete.

The same may apply to the pattern noticed by OP

@OP. Can you provide some charts, please?

Payapa

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Maybe in earlier weeks of BTC's recovery, the pattern might be noticeable, but as for me, I don't believe it. Currently it's friday in my place, and I see BTC's going up. Maybe there's a factor in time zone, but one thing's for sure, you got a good eye in analyzing it.

Bambinoe

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Well i haven't discovered that trend so i cant give a yes or no response. But i did like to get your facts or trends to verify your claim.

crocozino

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well maybe this Friday is special? Cause it Chinese New Year and that is why Btc is going up
and also on 14FEB there were futures sales and everybody expected they gonna dump it, but instead they well up
so.. BTC's price is up, which is wonderful news

anggriani

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I used to hear from my friends that there is a black Friday, but I do not understand what his relationship with market.
Maybe on friday, saturday, sunday or weekend many employees are off work and take the time to become a trader, to earn extra income.

But I think it's all irrelevant and there's no reasonable reason to believe it.

boboking

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To be honest i do not notice it nor i do not know what your saying is true but if it is my assumption is people are taking their profits before the weekend. Usually this happens during holiday season specially in the stock market. I do not know in crpyto though, perhaps it depends on your exchange.

VitKoyn

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Quote from: Silentsweeper on February 16, 2018, 02:54:08 AM

Have you also noticed that the bitcoin price takes a small dip every Friday. Can we discuss why this is happening ?

Could it be that people are cashing out bitcoin to enjoy there weekend or are they simply less likely to trade on a Friday ?

Some private companies close early on a Friday and people are then less likely to trade bitcoin. Huh

Can you prove what are you saying? because any day of the week, Bitcoin price can go up and down there is no specific day that it will drop. I don't think people are cashing out every friday, what is this cash out your Bitcoin every week to use for grocery and any other stuff even if you are not gaining anything with your investment? I don't think so. What the hell are you talking about companies closing early on fridays? exchanges are operating everyday, they only take a break when they need to do a maintenance.

Pursuer

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Quote from: Silentsweeper on February 16, 2018, 02:54:08 AM

Have you also noticed that the bitcoin price takes a small dip every Friday. Can we discuss why this is happening ?

sometimes near weekends price of bitcoin falls a little. but that is sometimes and you can not make a rule out of sometimes. because also sometimes price rises, and rises a lot near weekends and sometimes it falls mid week!

Quote

Could it be that people are cashing out bitcoin to enjoy there weekend or are they simply less likely to trade on a Friday ?

I don't know any idiot in the world that sells his assets to "enjoy the weekend"!
it is like saying people sell their house on weekends to go to a restaurant and enjoy and then buy back their house on Monday!

pharaon

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Quote from: Silentsweeper on February 16, 2018, 02:54:08 AM

Have you also noticed that the bitcoin price takes a small dip every Friday. Can we discuss why this is happening ?

Could it be that people are cashing out bitcoin to enjoy there weekend or are they simply less likely to trade on a Friday ?

Some private companies close early on a Friday and people are then less likely to trade bitcoin. Huh

Interesting observation! I really did not think about it and did not notice it. Maybe this is true, but still it is happy that the price of bitcoin is recovering.

BlackHat_1997

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I think all is normal!

LogitechMouse

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If this speculation that you made is true then the reason I think that is happening is because of the upcoming weekends as you said. Maybe the families want to spend time with each other and they go to various places so they will withdraw some bitcoins and then use it to have some money to spend. Although this is not likely happening all the time.

Slow death

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Quote from: Silentsweeper on February 16, 2018, 02:54:08 AM

Have you also noticed that the bitcoin price takes a small dip every Friday. Can we discuss why this is happening ?

I never noticed such a "phenomenon", how the hell did you come to that conclusion? You have to tell how many Fridays you observed the fall of the price so that we have basis to discuss about the possible causes of this fall of prices every Fridays

Quote from: Silentsweeper on February 16, 2018, 02:54:08 AM

Could it be that people are cashing out bitcoin to enjoy there weekend or are they simply less likely to trade on a Friday ?

I think not, most people who buy bitcoin do it because they want to earn high returns they do not sell easily, unless the price falls and they panic and sell, but in conditions where there are no panic they do not sell bitcoin to go have fun, I say this because I read comments in the chats of many investors, the guys buy bitcoin and altcoins to hold for more than 2 years.

Quote from: Silentsweeper on February 16, 2018, 02:54:08 AM

Some private companies close early on a Friday and people are then less likely to trade bitcoin. Huh

exchanges work 24/7

Nerkata

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Actually I don't believe there are patterns in crypto. because due to the pattern people would react in advance to them thus keeping them from happening.

zeze18

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that fundamental analysis could be true could be not.
Crypto prices are unpredictable, if you found the cycle and it's true, that a very good for you

Topic: Strange things happens to bitcoin on Fridays ? (Read 197 times)