<p>Someone could have programmed a bot to place buy-orders every hour based on a some historical price average, say over the last 24 hours.      </p>

CC BY-SA 3.0
2014-03-27T16:44:46.987Z
2014-03-27T16:44:46.987Z
Alex Millar
<p>It could be someone buying a fixed number of coins every hour at market price.</p>

<p>The height of the spike would depend on the market depth at the time.</p>

CC BY-SA 3.0
2014-03-27T17:57:40.133Z
2014-03-27T17:57:40.133Z
Chris Moore
<p>The price spikes every hour, on the 26 minute mark:</p>

<p><a href="https://bitcoinaverage.com/charts.htm#USD-averages-1d" rel="nofollow noreferrer">https://bitcoinaverage.com/charts.htm#USD-averages-1d</a></p>

<p>(Although it seems like spikes do not show up for some people/browswers.  Her is what I see: imgur.com/aKYaDvX )</p>

CC BY-SA 3.0
2014-03-27T15:34:22.410Z
Sell orders at above-market price wouldn't be matched though, so you probably mean buy-orders? Please separate your answer into an answer post. It is alright to answer your own question, but please don't answer it in the question as it is impossible to vote on the answer that way. Could you please also provide a better explanation where you are observing hourly price spikes? I have trouble seeing such a thing in the provided chart.
Murch
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2014-03-27T15:58:38.500Z
I see spikes, I have yet to see that they are forming any pattern at all. Every matched order shifts the chart, so it would only be without spikes if there were no market activity at all. His question's title is "What is causing the spikes?" and his text is "I think it is a trading bot". How is he not answering his own question?
Murch
CC BY-SA 3.0
2014-03-27T16:02:25.443Z
@fredsbend I don't see it too. I totally agree with Murch on all points, except that I found the answer (it really isn't one) of such low quality that I down voted. If the poster improves the question/answer, I will un-down-vote.
Jori
CC BY-SA 3.0
2014-03-27T16:09:51.717Z
Okay, I think I understand now that OP means the downward spikes (sell-orders) happening roughly between x:21 and x:24 several times during the day, not every hour though. @AlexMillar: It would be grand if you could confirm/clarify what you mean.
Murch
CC BY-SA 3.0
2014-03-27T16:39:37.427Z
Thanks @Murch.  Yes, I was mistaken - I should have written "buy-orders."  I'm surprised you can't see them on bitcoinaverage.com.  Here is a screenshot of what I see: http://imgur.com/aKYaDvX
Alex Millar
CC BY-SA 3.0
2014-03-27T16:47:25.553Z
Alright, that is outright weird: This is what the chart looks like for me: https://i.sstatic.net/x3Xex.png
Murch
<trading><exchange-rate><market>
What could be causing hourly bitcoin price spikes?
Alex Millar
# What could be causing hourly bitcoin price spikes?

(Asked by: username_0 on 2014-03-27)

The price spikes every hour, on the 26 minute mark:

<https://bitcoinaverage.com/charts.htm#USD-averages-1d>

(Although it seems like spikes do not show up for some people/browswers. Her is what I see: imgur.com/aKYaDvX )

**Tags:** trading, exchange-rate, market

> **Comments:**
> **username_1**: Sell orders at above-market price wouldn't be matched though, so you probably mean buy-orders? Please separate your answer into an answer post. It is alright to answer your own question, but please don't answer it in the question as it is impossible to vote on the answer that way. Could you please also provide a better explanation where you are observing hourly price spikes? I have trouble seeing such a thing in the provided chart.  
> **username_1**: I see spikes, I have yet to see that they are forming any pattern at all. Every matched order shifts the chart, so it would only be without spikes if there were no market activity at all. His question's title is "What is causing the spikes?" and his text is "I think it is a trading bot". How is he not answering his own question?  
> **username_2**: @fredsbend I don't see it too. I totally agree with username_1 on all points, except that I found the answer (it really isn't one) of such low quality that I down voted. If the poster improves the question/answer, I will un-down-vote.  
> **username_1**: Okay, I think I understand now that OP means the downward spikes (sell-orders) happening roughly between x:21 and x:24 several times during the day, not every hour though. @username_0: It would be grand if you could confirm/clarify what you mean.  
> **username_0**: Thanks @username_1.  Yes, I was mistaken - I should have written "buy-orders."  I'm surprised you can't see them on bitcoinaverage.com.  Here is a screenshot of what I see: http://imgur.com/aKYaDvX  
> **username_1**: Alright, that is outright weird: This is what the chart looks like for me: https://i.sstatic.net/x3Xex.png  

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## 2 answers

### Answer by username_0 on 2014-03-27. Score: 1

Someone could have programmed a bot to place buy-orders every hour based on a some historical price average, say over the last 24 hours.


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### Answer by username_3 on 2014-03-27. Score: 1

It could be someone buying a fixed number of coins every hour at market price.

The height of the spike would depend on the market depth at the time.


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