It is another Friday

in LeoFinance2 years ago



Fridays are known to be the groovy time for workers and most business owners, but it is usually a hard time for most people in the crypto space. While other company closes from work and resort to clubbing or having nice times either alone or in the company of friends, most crypto traders are always glued to their screens with the mindset of making money as trades wind up in almost all industries.

It is normal to see traders of shared and stocks relax over the weekends but for those who trade bitcoin and other ALT, there is a relaxation period. They trade all through this period with most looking to buy more than sell. The reason for this action is because prices of cryptos tend to fall during weekends and that's an opportunity for them to buy more and sell at a higher value during the weekdays.

At the time of writing, I can't claim to know why prices fall of most cryptos most time during Friday and all through the weekends but I have assumptions as to why. I feel that based on most firms closing their trading activities during Fridays and closing out on all trades might have impacted the prices. by that assumption, it means that most organisations dealing in crypto convert most of their coins into stable coins (After realising profits).

Fridays mark the start of the fall but also a reminder that blockchain technology is still not there yet. Also, it confirms my intuition that we are among the early adopters of this technology. In that light, buy more dips that this weekend offers and sell at a higher rate as the weekends will soon be over.

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