Since getting into crypto in Jan 2021…. not sure why, but the weekends seem to be bearish 8 times out of ten… I don’t have hard data, but noticed this pattern…. any one else?
Since getting into crypto in Jan 2021 (I'm new to this game)…. not sure why, but the weekends seem to be more bearish…. with 5% or 10% sell offs of crypto that you've bought (not all crypto usually)… I don't have hard data, but I've noticed this "the weekends suck" pattern. Typically, the cypto market returns to some degree or a large degree late Sunday night into Tuesday.
Part of me wonders if the recent wild variations might be due to stimmy check or tax return people not comfortable with rollercoaster rides… they're not thinking long term (i.e. holding one crypto for 3 months or a year)… so they sell their crypto when they break even, see a small sell off, or a small gain… also, since it's 24 hours a day… and often based on FOMO and FUD… and one video or one news article or one tweet can influence a large number of people to buy or sell… without any good reason other that <insert someone with large audience> said to buy/buy/buy or sell it… so there are wild fluctuations… people that don't even know what crypto is are buying and selling more than ever.
Do you have thoughts why the weekends usually aren't very bullish? Or is it just my picks?
submitted by /u/rockstarcoder
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