weekend dumps? - page 2. | Bitcointalksearch.org

Brewins

legendary

Activity: 1120

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Quote from: stonerider on January 23, 2015, 09:33:03 PM

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

stonerider

full member

Activity: 224

Merit: 100

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.

Brewins

legendary

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Merit: 1000

LOL prices were around 227 few hours ago.

And now are around 231.

Guess no dump, at least now

stonerider

full member

Activity: 224

Merit: 100

$229 and counting down. It's almost comical how the dip happens right on time for the weekend.

Omikifuse

legendary

Activity: 1834

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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

stonerider

full member

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Yep, like clock work, it's started to decline, $231 right now and going down.

Bit_Happy

legendary

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A Great Time to Start Something!

All of the above, plus:
When the tendency gets "too predicable", you start to see strong rallies on some weekends.

mlferro

sr. member

Activity: 252

Merit: 250

Quote from: cheekychap on January 23, 2015, 06:01:10 PM

Quote from: thresher on January 23, 2015, 05:51:19 PM

What is the reasoning for weekends usually dumping coins?

Maybe people looking to cashout and spend it on weekend holidays Tongue

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.

minerpumpkin

hero member

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A pumpkin mines 27 hours a night

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!

HarmonLi

sr. member

Activity: 350

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Honest 80s business!

Quote from: jaberwock on January 23, 2015, 06:36:05 PM

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!

jaberwock

legendary

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less volume, less people paying attention

Perfect time to create a panic sell

HarmonLi

sr. member

Activity: 350

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Honest 80s business!

Quote from: Dexter770221 on January 23, 2015, 06:14:45 PM

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...

Dexter770221

legendary

Activity: 1029

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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...

thresher

hero member

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That stuff makes sense, ironically it dropped as soon as i made this thread lol

HarmonLi

sr. member

Activity: 350

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Honest 80s business!

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!

cheekychap

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Quote from: thresher on January 23, 2015, 05:51:19 PM

What is the reasoning for weekends usually dumping coins?

Maybe people looking to cashout and spend it on weekend holidays Tongue

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.

thresher

hero member

Activity: 700

Merit: 500

What is the reasoning for weekends usually dumping coins?

Topic: weekend dumps? - page 2. (Read 2143 times)