Jump to content
Sign in to follow this  

Pattern of Bitcoin going up a lot over the weekend!

Recommended Posts

I have noticed a pattern that there is a lot of buying of Bitcoin after 10:00 pm on Friday and throughout Saturday so that after Sunday 8:00 am there is a big increase in the price. Last weekend the same thing happened. This week it has happened again. Bitcoin seems to be behaving more like a safe haven albeit an extremely speculative one than say Gold. 

 

The pattern is there. There was an article, I think it was CNBC, that suggested $5000 for Bitcoin and others suggesting 10000 and 100000. The time to sell is when 'Joe Bloggs' on the street is talking about Bitcoin as an investment and profits. That is why the smart money sells when the real 'herd' enters that arena. 

Share this post


Link to post

Hi  I've just read your last couple of posts on Bitcoin - some great insight! I was curious as to where you thought BTC was going over the 1 week / 1 month / 1 year time frames? I know myself and  are keen crypto enthusiasts, and have been pushing for IG to increase our offering to Ethereum (now available on the trading platform) as well as other offerings. 

 

Do you trade ETH, or any other Cryptos? Which would you like to see listed on IG.com ?

 

Share this post


Link to post

My thoughts on Bitcoin are the short term I see if going up and I will continue to believe that unless there is a trend reversal which could happen at any time and it could be violent! In that case I will short Bitcoin and make money as the price decreases. That should answer your 1 week to 1 month question. In terms of 1 year it is very difficult to answer and I honestly do not know or have any real thoughts. Its all about making money now on current trends and I do not tend to worry about time horizon of 1 year. 

 

I am a big fan of Ether but IG.Com has not been allowing traders to open long positions for the past week or so. This is so frustrating. Profits have been missed as a result. Yes to ETH.

 

The other cryptos that IG.Com should consider is Ripple, Dash and Litecoin. 

Share this post


Link to post

Afternoon again!

 

Interesting thoughts on Bitcoin, it's great to hear what you think, and we'd be really keen to hear everyone else's thoughts on this.

 

You might also find this article quite interesting, it is 3rd party so usual caveats do apply, but do let me know what you think: http://www.zerohedge.com/news/2017-06-22/bitcoin-money

 

With regards to going long ETH, my previous post covers why we sometimes restrict this. At present we're seeing large amount of clients buying ETH, and have simultaneously reached our internal limits, which means we can't offer any new long positions. We do review this regularly, and will allow clients to place new long positions as soon as we can.

 

Same applies to new currencies, we are looking into them, I'll keep you up to speed about any developments. 

 

Thanks!

 

Ludwik

 

 

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      6,582
    • Total Posts
      29,594
    • Total Members
      39,236
    Newest Member
    Sanjaa123
    Joined 25/04/19 03:54
  • Posts

    • Thursday's pre-market big names and charts.
    • US durable goods data at 1:30 pm today. Dow and S&P still loitering just under the ATHs losing momentum but not looking too concerned, still waiting for a push. On the H1 Dow working it's way up to the new daily pivot around 26600 and Dax looking up at a first target of yesterday's high at 12350.
    • @Xtian, Unfortunately the DRIP option is not available on IG. I accept this is disappointing for those who really want this option. This question keeps on constantly appearing. There are other threads on this very question where you will find more detail. If you type 'DRIP' or 'Dividend Reinvestment' in the search box and press enter then you should find other threads with this very question. 
    • @tombarrow, On IG's UK Spread Betting platform there are quite a few Commodities that have both the 'Spot' and 'Futures' option available trade. There are some where just 'Spot' is available and others where 'Futures' is just available. You will have to go through them to ascertain which they are. If you look at Precious Metals then they all have a 'Spot' and 'Futures' option. I suppose there is more liquidity from a markets / trading perspective which could possibly be the reason for this. Yes there is overnight funding for 'Spot'. You are right 'Futures' do not have overnight funding but the spreads are less attractive.  No overnight funding will not be displayed on the trade. IG will inform you of the charges by sending you a daily statement which includes them. You can alternatively go to the charges / cost section and try and work out the charges yourself.
    • Hi there New to trading metals and wanted to understand a bit more about the spot and futures pricing. I'll make the question in sections so it is easier to answer. 1) For base metals it seems only HG Copper has a futures and spot option. Does this mean there are no futures trading for the other metals? Or is the spot price derived from the LME 3 Month Futures Price? 2) Are there expiry dates on the spot prices and is there overnight funding for spot? (I am aware futures do not have overnight funding but are embedded into the spreads).   3) If there is overnight funding or an expiry date will they be displayed on the trade?
  • Our picks

×
×