Why is bitcoin down right now? $400 million in sell off can have that effect. Now the flip side of that here is that you now have an opportunity to buy all that up as it went back into the pot!
He had to sell off sooner or later. Might as well get it over with now. On the bright side, there’s now over $400 million worth of bitcoin in circulation now.
Tokyo-based mt gox was the bitcoin exchange back in 2014, until it famously went poof, taking down with it some 800,000 btc . About 200,000 btc was recovered, and the ensuing lawsuit pegged the usd value of each at $480 - this was the amount mt gox needed to pay back for each one of those 200,000 btc.
Long story short, the big downwards price movements of the last 2-3 months seem largely caused by the incremental sales of these btc. The man responsible for this trustee sale is a lawyer, and does not appear to be a savvy trader, considering he panic sold 18,000 btc at the very bottom.
Read this Article For more Detail : :
https://www.zerohedge.com/news/2018-03-07/bitcoins-tokyo-whale-sells-400m-bitcoin-bitcoin-cash
market crash day by day Steem and SBD Value also Too much Down :( May be Market Stable again in september .
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Nice post keep sharing.
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I don't want to meet that idiot, he could have sold OTC but nooo. lets just crash the market and watch everyone cryyyy :(
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Market will set again in September
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Is he the one? He has a lot of think face to appear in media after what happened. Greedy will always be greedy but I didn't expect that they could be stupid as well selling the BTC when the market is down.
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And did he have any financial incentives to crash the market - so some banksters could buy the dip???? Just asking.
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Tokyo Bitcoin Pope (not to be confused with Tokyo Pope) revealed on Wednesday that he has sold about $ 400 million in bitcoin and bitcoin cash since late September.Nobuaki Kobayashi, the bankrupt trustee for Mt. Gox, the world's largest bitcoin exchange before the hacker escaped with tens of thousands of billions of billions worth of subscribers at the latest price, said that he started selling at the end of September, which means it is very likely he sold at least a few coins at the highest level achieved. towards the end of last year.@askquestion
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Mt. Gox strikes again. Keep in mind this crypto-moron still has quite a sizable Bitcoin holding. While it's my understanding his incentive to sell is about gone, you never know what people will do. What's good is that if this is truly the cause of the market down turn, that means the market sentiment should be easily swayed in the other direction. My fear now is that we've come to a point where people have become so sensitive to negative news that any negative news could have drastically larger effects on the market. And the problem with the cryptocurrency market is that what's bad for Bitcoin is bad for everyone. Very few markets have a problem like this, where one asset/security/what-have-you can have such a drastic effect on the market as a whole. It puts a hindrance on many great projects. Do you think we get out of this slump before quarter end?
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I don't like to play devil's advocate to be fair bit we have to realise that in crypto someone who has a huge holding of bitcoin or whatever other coin can't really be blamed for wanting to sell it.
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