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RE: Mt. Gox Bankruptcy Trustee back at it?
The bankruptcy trustee for the defunct Mt. Gox exchange announced yesterday that he had sold $405 mln in Bitcoin over the last few months, a total of 35,800 BTC and 34,000 BCH. The selling of such massive volumes could be a big part of the reason Bitcoin fell from its high of $20,000 to its current price of $9,300. Even if the coins were traded over-the-counter (OTC) rather than on exchanges, it still would have suppressed demand, by filling the needs of buyers who otherwise would have bought off exchanges.
Yep, good point. That combined with the tax related selling and shorting by wall street and we likely have our reasons for the big decline.
Valid point sir. I agreed
Yes yesterday and todays fall is caz 8,200 BTC Moved From Mt. Gox Wallet, Possible Sell-Off Affects
https://www.ccn.com/8200-btc-moved-from-mt-gox-wallet-possible-sell-off-affects-bitcoin-price/
I hear that big investors are buying Bitcoin away from the exchanges so that it doesn't jack up the price of Bitcoin. But they have no problem creating FUD and selling BTC on the exchanges. It all seems like a desperate attempt to keep the price of Bitcoin down for now. This tells me that BTC is resilient and is going to explode in the future. Hopefully, sooner than later.