Another Weekend and another drop in BTC

If you have been paying attention to the trading the last several months you likely noticed a trend...

The trend of bitcoin being unusually weak on the weekends.

Basically the US markets close on Friday and the price of bitcoin drops shortly after.

This weekend was no different:

(Source: https://bittrex.com/Market/Index?MarketName=USD-BTC)

That likely means the US market is seeing net buyers while the asian and/or european markets are net sellers.

Not sure if this has to do with the heavy handed regulation in China, but my guess is that it does.

Chinese Miners are being squeezed and many of them have been dumping their coins.

The good news for them is that they can relocate to El Salvador and not really miss a beat.