Mt Gox has been dumping on us for the last three months.
Exact time when money was transferred from Mt Gox trustee cold storage to exchanges on the BTC/USD chart (total 40,000 BTC.
MtGox owed creditors 41.5 billion JPY ($391 million, source) and the total value of the sold BTC is 43 billion JPY ($405 million). This leads me to think they have sold enough BTC to pay off the debt to creditors and won't be selling any more BTC any time soon (They didn't sell anything for over a month).
The address sold 18,000 BTC between December and February. The highest amount in Feb 5th. Go look at CMC to see what happened to the market that day.
They can just dump on us and rebuy at lower prices, doubling their stack they can keep doing this...which is pretty bad. cashout-> crash it-> rebuy-> cash out ->crash it again so on and so forth.
This is exactly why the Bitcoin amounts stolen should have been returned, not the dollar value at the time of the theft. The thief is making out, well, like a bandit.
Trustee has another 165,000 bitcoin, currently worth some $1.5 billion, and an equal amount of BCH worth another $150 million.
I've read estimates that say only 6 billion in total cash/fiat has actually entered a nearly 500 billion market, so I would say it is absolutely enough to depress prices. Especially after such a big run-up when everyone was worried about bubble.
They crushed cryptos in 2013 and now 5 years later once again, and to make it worse they still have billions worth of btc to crash the market with. The next bull run gonna be murdered by it again .
Hi, great post, worth a follow.
Thank you .
You got a 7.19% upvote from @dailyupvotes courtesy of @abhicrypto!
Oh my how much are they pointing to do???
It depends on the trustee man , nobody can say at the moment .