IMPORTANT 💡💡💡💡
WHY MARKET ISNT GOING UP?
Why bitcoin is going down again and again even when March had to be the flourishing period for the market?
The answer is simple. Mt Gox was the biggest crypto currency exchange holding 70% of the bitcoins in circulation.
Around 850,000 btc were stolen from its exchange leaving the company bankrupt.
They immediately filed for bankruptcy protection from the creditors (investors).
Around 200,000 have been recovered only.
Now to the main point why BTC is not going up but down.
Since December, Mt Gox has been dumping a huge amount of BTC as soon as the price goes a little bit higher to pay off the creditors they have.
No one can control their this decision.
This month had to take BTC to the new height but it couldnt cause of the huge dumping by Mt Gox.
Uptil now, they have dumped only 35,000 BTC and BCH and will be dumping more.
Why did they wait for this long? They waited this long because they lost 850,000 btc while recovered only 200,000. Now that the price has increased, they can easily pay off their all the creditors.
This mess will continue for a few time. Although the market is stable originally and must be flourishing but the sudden crash in price is not an actual crash but the mess created by Mt. Gox.
We dont know when exactly you will stop seeing the sudden drop in price since it is ALL upto Mt. Gox.
When is it going to rise?
May be sooon...
Thank you for this reference. Keep steeming! ❤️
Thanks for the info
imformative post..
thanks
I think this is the time i buy some thanks for sharing
This post has been resteemed by @crystalhuman courtesy of @ahmads
To have your post resteemed, make a minimum donation of 0.010 STEEM or SBD and leave a link in the memo!
Thanks for supporting @crystalhuman resteeming service!
Good Luck!
Upvotes remainingz
Oops, almost forgot. And there is a change in service to be noted. Only resteems for now :) But, I upvoted. Have a great day/night and thanks for your support!
informative -> resteemed
How Cool!
You got a 4.55% upvote from @coolbot courtesy of @ahmads!
Help us grow, delegate today!
Maybe we should take into consideration the BTC futures too, which will settle tomorrow: http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures
@resteemator is a new bot casting votes for its followers. Follow @resteemator and vote this comment to increase your chance to be voted in the future!
In the fight of Humans vs Bots, @megabot defended you with 25.00% upvote courtesy of @ahmads!
Support @Megabot by delegating SP to the bot and get a part of 80% of @Megabot's profit.
Direct delegation links : 10 SP || 50 SP || 100 SP || 500 SP || 1000 SP || Any other amount of SP
Thank You !
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Ahmads from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.