MTGOX:BTCUSD   Bitcoin / U.S. Dollar
556 3 7
Im sick of hearing people in chat always complaining about "weekend sell offs". Its a myth. It happened one weekend, and ever since people say weekend always drop. Who would take profits during the weekend when it takes 1 year to withdrawal from GOX anyway. The past 5 weekends have resulted in a 30% gain.
wade8977
2 years ago
doesnt look like a 30% gain is in the near future based on the last hour. I agree with you though. I did some research on weekend trading several months ago and couldn't find a significant correlation with price. I think everyone gets thrown off because there is a significantly lower trade volume
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phrak
2 years ago
It depends on who's weekend we're talking about though. For example, the weekend drop on 07-09 Dec-13 happened squarely in my Saturday around lunch time (Sydney, AU GMT+11). This correlates with Chinese Saturday morning (Beijing, GMT+9).

So moving your time windows a little to the left shows that 4 of 5 Chinese weekends have had a price drop.

Even this last weekend (14-15 Dec 13) was no exception.
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Nathanael phrak
2 years ago
ah, yes, I did not think about time zones. Pretty selfish of me actually. Still, I personally don't consider it a significant factor yet.
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