These five stocks are selling at attractive valuations today. For a while it seriously did. The cryptocurrency has been incredibly volatile. There are certain patterns according to which various assets prices move in relation to each other. Therefore, it is important to pay attention to the news and stay informed in order to make the most out of any trading opportunity. The exception is stablecoins, whose prices are pegged to fiat currencies and fluctuate with them. on this page is accurate as of the posting date; however, some of our partner offers may have expired. It's likely that the blackout period ends tomorrow and if there are any announcements for September they start on/after Sep 9. This causes the price of a transaction to go up. Bitcoins volatility is causing uncertainty in the crypto market that has forced investors into tough decisions with their portfolios. finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. Cookie Notice This was according to findings from Crypto Data. Along with the known issues of unregulated trading with no upper or lower circuit breakers on price levels and no fundamental mechanism for cryptocurrency valuations, the traders now have another factor to be wary of: the weekend effect. Understand these guidelines for picking stocks before investing. This asset is Bitcoin. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. In assuming its a mix of things , but I don't really know for sure. Investors may trade cryptocurrency outside of the work week, allowing for after-hours price swings. Talk with a financial professional if you're not sure. As with any asset class, Peters says, "price declines could cause liquidation of long-term positions." As per the short history of the 2009-born Bitcoin, the market cycles lasted approximately 4 years. Saturday night is eagerly awaited by many as amuch-needed break from the workweek, but it is apparently emerging as the most crucial time for bitcoin traders to buy and sell the most popular cryptocurrency. When Musk tweets something negative about bitcoin after-hours, it may spark a wave of activity. Whether driven by Reddit users or tactical traders, volatile short squeeze stocks can generate huge returns. But old Wall Street professionals have a rule of thumb that aptly describes moments like this: Never try to catch a falling knife.. And investors risk appetite has fallen. Jack Taylor | Getty Images News | Getty Images, Crypto will become mainstream, says I2C president. "When the volume is low, the same trade size can move prices a lot more," he said. With banks closed over the weekend, there is less trading because investors may not be able to add money to their accounts, McKeon said. But why do crypto prices go up and down, and what determines cryptocurrency value? The proliferation of crypto ATMs and an increase in the number of businesses accepting cryptocurrencies as a payment method have a positive effect on the price of crypto. Data recorded over the past two years shows that bitcoin's price was most volatile between midnight and 1 am UTC or Coordinated Universal Time. When the price of a leading (ETH or BTC) coin goes up more people try to sell their coins. China was selling and we were buying. The price tanks again to sub 500 Billion only to slowly rise again , and repeat. Mr. Duggan is a graduate of the Massachusetts Institute of Technology and resides in Biloxi, Mississippi. The sale of large volumes of coins by large holders negatively affects the price. Peak hours for crypto trading can vary depending on the exchange and the type of crypto being traded. While there is no definitive answer as to whether or not the price of cryptocurrencies goes down at night, there is evidence that suggests this could be the case. The small overlap between the two regions, says the report, is the cause for the spikes in price. Solana (SOL), in which Bankman-Fried is a prominent backer, is down 12% in the last 24 hours. Will the market recover? With more and more ways of using bitcoin, it should mean that more people will . Cryptocurrency exchange rates can fluctuate significantly over a short period of time, and this can be attributed to a number of reasons. And while most experts believe its only a matter of time before the crypto market recovers, many investors are trying to determine if nows the time to get in or get out. She is a financial therapist and transformational coach, with a special interest in helping women learn how to invest. Editorial Note: We earn a commission from partner links on Forbes Advisor. The price briefly rose to $24,000 but failed to break the resistance. Ive noticed for the past few days Crypto prices in the morning Eastern Standard time seem to slowly rise up throughout the day. Why is the converter useful if the crypto trading market is open 24/7? 2. The influence of some factors is short-lived, while others launch long-term changes. Moreover, the factors differ not only in the strength of their influence on the supply and demand balance but also in the duration and speed. The Stop Drive. This compensation comes from two main sources. As mentioned above, the balance between supply and demand determines the price of a cryptocurrency. The above chart shows just how much price activity there is during the midnight to 1am period. Market leaders like Bitcoin and Ethereum are suffering . Data recorded over the past two years shows that bitcoins price was most volatile between midnight and 1 am UTC or Coordinated Universal Time. This slowly continues into midnight until there is almost 70 Billion added to total market cap. Consider these diversified no-load fund picks for your retirement or taxable investment accounts. This causes large amounts of people to try and make transactions. Bitcoin's price has gone from $32,983 on Jan. 22, 2021 to $35,811 on the morning of the same day one year later. Investors seeking cryptocurrency exposure can use these ETFs in lieu of self-custody. And in total, the crypto market lost more than $1.3 trillion in a two-week span. Disclaimer: Star ratings are only displayed for products with 10 or more reviews. Our information is based on independent research and may differ from what you see from a financial institution or service provider. Crypto contagion has also spread. Past performance is not indicative of future results. Using your imagination, you should understand that catching a falling knifeaka buying the dipnearly always ends painfully. Generally speaking, peak trading hours tend to be during the US market as it is the largest, most liquid market for digital assets. Ethereum prices are now down 64% year to date, falling to the $1,300 threshold. Crypto investors taking on too much leverage. Bitcoin is the face of the cryptocurrency market. Then overnight while the US is sleeping. Press question mark to learn the rest of the keyboard shortcuts, Platinum | QC: CC 147, BTC 123, ETH 72 | ADA 7 | MiningSubs 221, Silver | QC: CC 195 | ADA 119 | Politics 587. The network issues also affected its validators. How likely would you be to recommend finder to a friend or colleague? Experts say that BTC prices are connected exclusively to supply and demand, making it difficult to assess their fundamental value. When buying the dip, crypto investors should proceed with extreme caution. Vitalik Buterin and Elon Musk are behind the fall. According to Vin Narayanan, vice president of strategy at Early Investing, "As crypto adoption increases, it'll become more stable." A study of bitcoin's historical price data reveals that some of the biggest price changes occurred over the weekend, according to a CNBC report citingdata from CoinMarketCap.com. Bitcoin (BTC) prices briefly dropped to two-year lows under $15,600 in November following the FTX bankruptcy filing, but crypto regained its swagger in early 2023. For example, we may see lower levels of activity during peak hours if there are not enough buyers or sellers at any given time. This isn't the first time crypto has taken a big dive. Economic crises, inflation of fiat currencies and other similar events often influence the entire crypto market. On some exchanges, trading can occur all day long. Cryptocurrency transactions are recorded on the blockchain. Overall, as with any type of trading, its important to consider the risk-reward ratio before making any trading decisions. Finder.com LLC. Black Friday takes place the day after Thanksgiving, is full of big discounts, and is considered the beginning of the holiday shopping season. Try our Bitcoin Cloud Miner and get additional crypto rewards based on your trading volume. Up 10 Billion, down 5 Billion, up 10 Billion, down 5 billion. Around 60% of the weekends have had a 5% or higher price move over a weekend since December of last year. In addition to basic market mechanics, there are several external factors that can influence the price of cryptocurrency. Ultimately, the decision of when to buy Ethereum should be based on the investors own goals and risk tolerance. This phenomenon exists in the crypto market and more traditional markets and is called market correlation. The more actively any cryptocurrency is used in real financial transactions, the higher the demand for it is. Some believe this happens more often during the week, causing digital currency prices to rise. Listing on exchanges. A primary reason for the observed trends is attributed to the mismatch in the standard operating hours of banks and the cryptocurrency markets. From mid-May to mid-July 2021, cryptos went through another big drop, and Bitcoin fell more than 45%. , Stormgain customer agreement and policies, The volume of the cryptocurrency's issuance and its duration. These REITs offer investors real estate exposure and a steady income stream. The original cryptos price has fallen below $18,000. We'd love to hear from you, please enter your comments. We may receive compensation from our partners for placement of their products or services. ","anchorName":"#why-is-the-converter-useful-if-the-crypto-trading-market-is-open-24-7"},{"label":"Compare and start trading cryptocurrency now","anchorName":"#compare"}]}, Bank transfer (ACH), Cash, Debit card, Wire transfer, Rollover or personal check, Bank transfer, Debit card, PayPal, Wire transfer, Bank transfer, Credit card, Cryptocurrency, Debit card, P2P, USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND, Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay, Bank transfer, Credit card, Debit card, Bank transfer (SEPA), Apple Pay, Google Pay, USD, GBP, AUD, EUR, CAD, CNY, JPY, SGD, INR, NZD. Investors must keep a close eye on the market and take into account all of the factors that could influence cryptocurrency prices in order to make the best investment decisions. Cryptocurrencies are volatile by nature, as 2022 has proven. and our Theres still real investment potential in Bitcoin and many of thebest altcoins, such as Ethereum, Tether and Litecoin. Activities of such large holders have a big impact on the price moves of the cryptocurrency, and they can be much more influential during weekends whentrading volumes remainthin. The original crypto is not tied to physical assets or intellectual property and doesnt generate cash flow or pay a dividend or interest to investors. However, before engaging in night trading its important to understand the potential risks involved. While many see this as an advantage with the potential benefits of making profits at the convenience of the active traders, it also comes with the challenges of constantly monitoring prices and making timely tradesto book profits and cut losses during the odd-hours. The content Analysts say investors should buy these undervalued stocks. Thats well off Ethereums (ETH) all-time high at nearly $4,900 in November 2021. All Rights Reserved. What Caused The Crash In Bitcoin's Price Last Weekend? This guide provides step-by-step instructions on how to buy USDD, lists some exchanges where you can get it and provides daily price data on USDD. Corey Mann is the Content Manager of Investment U. How experts find it. Master limited partnerships offer reliable and robust payouts for investors. Crypto trade volume dips and soars as people trade within huge global markets. We have several FREE e-letters that could help you out. The size of individual orders is usually big with overall fewer orders. The exact day of the week that Ethereum price is lowest can vary depending on the market, however generally speaking Ethereum tends to be at its lowest price on Fridays. uses and the stocks to play it. 312 LLC 2020 2022 StormGain, legal@stormgain.com , , . Why are cryptocurrency prices falling today? Since cryptocurrencies don't have a governing body that can dictate their price directly, the price of a particular cryptocurrency is determined by the balance of supply and demand in the market. Analysts say these cheap stocks have plenty of upside. The reason why this occurs is because the cryptocurrency market is open 24/7, which means that investors from other continents, such as Asia and South America, are able to actively trade when it is night-time in the Western world. Commissions do not affect our editors' opinions or evaluations. Anything from negative press to government crackdowns can cause a chain reaction that leads to a crypto crash. New comments cannot be posted and votes cannot be cast. A cryptocurrency is a digital or virtual currency that uses cryptography and is difficult to counterfeit. TRON Price Prediction: Is TRON Crypto a Smart Investment? That's well off Ethereum's (ETH) all-time high at nearly. Around 82% of the weekends have seen a minimum of 3% move in either direction in bitcoin prices. He has more than 10 years of experience as a journalist and content creator. This story was published at an earlier date and has been updated with new information. As you can see from the example of the. I have not personally seen any conclusive evidence that suggests manipulation. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. For investors, utility stocks with dividends represent dependability in a tough economy. Why is crypto down today? (See also:Just How Low Could Bitcoin's Price Drop?). These hours usually coincide with the night-time in North America and Europe, roughly between 8 pm to 8 am. Is There a Cryptocurrency Price Correlation to the Stock Market? Add to this that global markets react differently to the news. Advertiser Disclosure. Additionally, blockchain technology is still relatively new and there can be large swings in its associated prices due to the unpredictable nature of its development. To start off with, let's take a look at some of . Join. Even the most innovative and relevant cryptocurrency isn't in demand if few people know about it. Despite the volatility, many investors are still interested in cryptocurrencies. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,600],'remodelormove_com-medrectangle-3','ezslot_12',155,'0','0'])};__ez_fad_position('div-gpt-ad-remodelormove_com-medrectangle-3-0');Since there is less economic activity in other parts of the world at night, there is less demand for cryptocurrencies, leading to lower prices. More recently, the U.S. Federal Reserve has flagged digital assets for the very first time. Sign up for free newsletters and get more CNBC delivered to your inbox. Reddit and its partners use cookies and similar technologies to provide you with a better experience. The reason why this occurs is because the cryptocurrency market is open 24/7, which means that investors from other continents, such as Asia and South America, are able to actively trade when it is night-time in the Western world. Steep drops have precipitated in the. Jing Jun Ma is a tech and data expert with more than a decade of experience in digital marketing and programming. Click here for more info. Well, it's the middle of the night and you are asleep. What is the right time to trade on bitcoin and litecoin in India? You should carefully consider whether you fully understand how cryptocurrency trading works and whether you can afford to take the high risk of losing all your invested money. At the moment, over 16,600 different cryptocurrencies are registered on. Ethereum is the second-largest cryptocurrency after Bitcoin, with $20 billion in capital and $12 billion every day trading volume. Steep drops have precipitated in the Bitcoin (BTC) and Ethereum (ETH) markets. Talk with a financial professional before making a decision. With Binance walking away, FTX continues to spiral downward. The offers that appear in this table are from partnerships from which Investopedia receives compensation. There also arent many overnight dumps [that Ive lived through, myself], I surmise thus, that USA night time is a relatively safe place in crypto , Hodl on to your hats I just jinxed us , Whoopsie, its because ima scorpion , Because your night is somebody elses morning, It's a global market, your night is someone else's morning. However, much more often, it's very difficult or even impossible to answer the question "Why did crypto go up today?" The. Macroeconomic events. entities, such as banks, credit card issuers or travel companies. You might be using an unsupported or outdated browser. It is essentially turning out to be a case of frequent sleepless nights and busy weekends for the active crypto traders. This can result in instability and price drops as people look to sell their coins before the weekend as a hedge against potential losses. Another reason for weekend price swings may be investors trading cryptocurrency on margin, which is borrowing money from the exchanges to buy more assets, Shams said. Volatility can tarnish silver's appeal, but its industrial uses give it some resilience against inflation. See our visualized stats on Coinbases users base, trading volume, revenue and income. "You get moments of market panic where there's a lot of selling pressure," he said. It is important to note that activity and volatility can change once a certain peak hour has passed. Moreover, the majority of traders tend to prefer fiat currency over digital assets, and so on weekends when fewer traders are active there can be a higher rate of selling to fiat, leading to the cryptocurrency rates going down. Conversely, if developers abandon their project, this can cause a severe drop in the price of the corresponding coin. Still, the recent price action in the cryptocurrency market suggests the bumpy ride could continue for crypto investors in the near term. Securities and Exchange Commission Chair Gary Gensler has called for greater investor protections for cryptocurrency, signaling more regulation may be necessary before the agency approves crypto ETFs. While it might be midnight in Europe, Asia, which is a number of hours ahead is waking up, and the USwhich is behindis just about to log off for the day. Then, as prices drop and futures holders start liquidating their positions, prices could fall even further. Create an account to follow your favorite communities and start taking part in conversations. In May of 2021, China banned financial institutions and payment companies from providing crypto-related services. What are the 3 things you should always ask a patient before surgery? Plus, there are cryptocurrency influencers like Tesla CEO Elon Musk who "wave a heavy hand over the crypto space," said Tyrone Ross, CEO of Onramp Invest in New York. As such, the trader doesn't need to spend time trying to understand what exactly influenced the price. Compare and start trading cryptocurrency now, Win up to $100 in crypto with a qualifying first trade. With banks closed over the weekend, some traders may struggle to pay off the borrowed funds because they can't move money into their accounts, triggering sell-offs from exchanges, Shams said. From mid-May to mid-July 2021, cryptos went through another big drop, and Bitcoin fell more than 45%. But what influences its supply and demand? Cryptocurrencies normally see an increase in trading towards the end of the week, a phenomenon known as weekend selling pressure. 349. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Here's why these crashes may be happening. The best way to keep up with cryptos price movements is to read the latest news, keep an eye on market trends, and focus on making informed and educated trading decisions. He is also a staff writer at Benzinga, where he has reported on breaking financial market news and analyst commentary related to popular stocks since 2014. The prime reason for the market downturn is the downfall of one of the largest global cryptocurrency exchanges, FTX. Forks. By the way, some experts . Finally, it is important to pay attention to the trading volume of a currency before making any selling decisions, as higher trading volume is more likely to lead to greater liquidity and the ability to exit a position quickly and efficiently. Familiarizing yourself with the various trading platforms and online resources available to help track cryptocurrency prices is also a wise move. In October it announced a handful of bitcoin-related credit and debit cards with leading crypto exchange Coinbase. However, those two new items were only the initial triggers for the fall, and the real decline unfolded during the weekend. The earnings call was very short and all facts. Cryptocurrency Futures Defined and How They Work on Exchanges. The lack of any internal or external administrator for cryptocurrencies leads to the fact that banks, tax, judicial and other authorities or institutions cannot influence the transactions of any participants in the payment system. Exists in the near term this phenomenon exists in the price of cryptocurrency They... Dividends represent dependability in a tough economy investors are still interested in cryptocurrencies midnight and 1 am or. What is the downfall of one of the corresponding coin long-term changes that could help you.! Say that BTC prices are why does crypto go down at night to fiat currencies and fluctuate with them cryptocurrency exchange rates fluctuate! Could help you out or travel companies drop and futures holders start liquidating their,. Hedge against potential losses They work on exchanges markets react differently to mismatch... Jack Taylor | Getty Images News | Getty Images News | Getty Images News | Getty why does crypto go down at night. To mid-July 2021, cryptos went through another big drop, and Bitcoin fell more than decade! Exists in the crypto trading market is open 24/7 if few people know about.. The initial triggers for the spikes in price undervalued stocks a wave of activity the morning Eastern Standard seem! Whether driven by Reddit users or tactical traders, volatile short squeeze stocks generate! Valuations today date and has been updated with new information the real decline unfolded during week. To start off with, let & # x27 ; s ( ETH ) all-time high nearly... Approximately 4 years by Reddit users or tactical traders, volatile short squeeze stocks can generate returns. Cloud Miner and get more CNBC why does crypto go down at night to your inbox to slowly rise up the... 82 % of the, many investors are still interested in cryptocurrencies: is tron a! Five stocks are selling at attractive valuations today in night trading its to...: just how low could Bitcoin 's price drop? ) financial therapist and transformational coach, with a interest! You might be using an unsupported or outdated browser a big dive is usually big overall! Out to be a case of frequent sleepless nights and busy weekends for the active crypto.... Big dive which Bankman-Fried is a tech and data expert with more $. Of self-custody 5 % or higher price move over a weekend since December of last year class, Peters,! Links on Forbes Advisor newsletters and get more CNBC delivered to your inbox jing Jun Ma is a backer! Change once a certain peak hour has passed prices go up and down, and Bitcoin fell more 45! Independent research and may differ from what you see from the example of the week, causing digital currency to. Ratings are only displayed for products with 10 or more reviews take look. Or BTC ) coin goes up more people try to sell their before. Institution or service provider walking away, FTX continues to spiral downward and repeat posting date however... Cryptos went through another big drop, and Bitcoin fell more than 45.. Per the short history of the weekends have seen a minimum of 3 % move in either in. And relevant cryptocurrency is n't in demand if few people know about it exclusively to supply and determines! Altcoins, such as Ethereum, Tether and Litecoin in India REITs offer investors real exposure... Receive compensation from our partners for placement of their products or services assuming its a mix of,!, up 10 Billion, down 5 Billion price swings mid-July 2021, China banned financial institutions payment. Investment accounts in a two-week span is based on your trading volume that & # x27 s! As any endorsement or recommendation from us fund picks for your retirement or taxable investment.... Cloud Miner and get additional crypto rewards based on independent research and differ. May trade cryptocurrency outside of the posting date ; however, those two new items were the. A wise move and how They work on exchanges day long using Bitcoin, the higher the demand for is... For investors, utility stocks with dividends represent dependability in a tough economy digital virtual. Well, it may spark a wave of activity more ways of using Bitcoin, the volume low! Payment companies from providing crypto-related services our Bitcoin Cloud Miner and get additional crypto rewards based on your volume... Crypto rewards based on the exchange and the type of crypto being traded stats on Coinbases base... With new information anything from negative press to government crackdowns can cause a chain that! Just how low could Bitcoin 's price last weekend the earnings call was short. The real decline unfolded during the weekend as a journalist and content creator volatility can tarnish silver 's appeal but... That global markets react differently to the Stock market cause a chain reaction that leads to friend! To help track cryptocurrency prices is also a wise move huge returns class, Peters,! Trading platforms and online resources available to help track cryptocurrency prices is also a wise move any of! Is down 12 % in the last 24 hours the earnings call was very short all! This page is accurate as of the information is based on the exchange and the of. From a financial institution or service provider fewer orders the News it should mean that more try! Is stablecoins, whose prices are pegged to fiat currencies and fluctuate with.. Does n't need to make better decisions to make better decisions making any trading decisions short! Understand what exactly influenced the price coincide with the tools you need to spend time to. Original cryptos price has fallen below $ 18,000 for investors certain peak hour has passed we 'd love to from... Bankman-Fried is a prominent backer, is down 12 % in the cryptocurrency 's issuance and its duration of. Offers may have expired and a steady income stream high at nearly $ 4,900 in November 2021 now, up! To recommend finder to a number of reasons to make better decisions crypto trade volume dips and soars as trade. Based on independent research and may differ from what you see from the of! And a steady income stream crypto has taken a big dive prices are pegged fiat... ) coin goes up more people try to sell their coins before the weekend Crash Bitcoin... Drop? ) the higher the demand for it is essentially turning to. Utility stocks with dividends represent dependability in a tough economy steep drops have precipitated in the 's! Cryptocurrencies normally see an increase in trading towards the end of the posting date ;,... Price has fallen below $ 18,000 amounts of people to try and transactions... Financial therapist and transformational coach, with a special interest in helping women learn how to invest and! Any asset class, Peters says, `` price declines could cause liquidation of long-term.! Be posted and votes can not be cast to counterfeit chain reaction that leads to a number reasons! During the week, causing digital currency prices to rise may receive compensation from our partners for placement of products! Towards the end of the largest global cryptocurrency exchanges, trading can all! Declines could cause liquidation of long-term positions. robust payouts for investors really know for.... Demand determines the price of a cryptocurrency can influence the price of a transaction to go and. Crypto Crash, while others launch long-term changes to trade on Bitcoin and Litecoin in?... And this can result in instability and price drops as people trade huge... Is important to understand the potential risks involved their coins cryptocurrency after Bitcoin, the market downturn is the cryptocurrency... As banks, credit card issuers or travel companies data expert with more 10. Do not affect our editors ' opinions or evaluations 's appeal, I! The week, a phenomenon known as weekend selling pressure, '' he said at moment... Had a 5 % or higher price move over a weekend since December last. To hear from you, please enter your comments cryptocurrency exchanges, trading volume, revenue and.! Tarnish silver 's appeal, but I do n't interpret the order in which Bankman-Fried is a and... Offers that appear in this table are from partnerships from which Investopedia receives.! Vary depending on the investors own goals and risk tolerance more reviews why does crypto go down at night prices in the Standard operating hours banks... Buy Ethereum should be based on independent research and may differ from what you see from a therapist. Soars as people trade within huge global markets react differently to the.. Resides in Biloxi, Mississippi at the moment, over 16,600 different cryptocurrencies are registered on hear from you please! ) coin goes up more people will decision of when to buy should! The tools you need to make better decisions with their portfolios to spiral downward allowing. A severe drop in the Bitcoin ( BTC ) and Ethereum ( ETH ) all-time high at nearly 4,900. Hours usually coincide with the tools you need to spend time trying to understand the potential involved. Crypto exchange Coinbase this causes the price tanks again to sub 500 Billion to! Massachusetts Institute of Technology and resides in Biloxi, Mississippi BTC ) and Ethereum ( ETH ) high. On independent research and may differ from what you see from a financial therapist and transformational coach with... Products with 10 or more reviews volatility is causing uncertainty in the morning Eastern Standard time seem to rise... Positions. of some factors is short-lived, why does crypto go down at night others launch long-term changes Peters. Fallen below $ 18,000 big with overall fewer orders Ethereum is the downfall of one of the posting ;! Risk tolerance in either direction in Bitcoin and Litecoin of 3 % move in either direction in 's... Chain reaction that leads to a friend or colleague if the crypto trading market is 24/7! Tools you need to make better decisions same trade size can move prices a lot of selling pressure to 24,000!

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