With the surge of bitcoin and other cryptocurrency see lost in faith now. Yet Mt. Gox company see’s that an opportunity and sold off the majority of bitcoin recently.
Bitcoin unstabilized and it was observed to be dipping now.
Since January, Mt Gox selling off the bitcoin at just the right moment and ruining the bitcoin market. The greatest bitcoin dip was seen from 19,700$ to $6000 in 2 month period.
Mt. Gox is one of the most controversial exchange platforms which was declared bankrupt is yet again accused of being involved in the price fluctuations.
For those who missed out the mt. gox case: Mt. Gox Bitcoin Sells History And Case Analytics
Mt. Gox sold off 16000 BTC worth around 1.4 billion USD at the current price. The company sold these BTC from their cold wallet to the major market.
The transaction had made 8 times with 2000 BTC each.
Similar bitcoin cash is sold off around 16000 BCH off with 2000 BCH 8 times.
|MTG CW Adress||Total BTC amount||Remaining BTC amount||Status||BTC variation|
Check out movement of bitcoin and bitcoin cash from Mt. Gox: cryptoground.com/mtgox-cold-wallet-monitor
With the 16000 BTC sold, a small dip was observed.
on coinmarketcap, the bitcoin was seen to be dipping 1.34% within 24h, with the current price floating of 8890$ and 399B$ Market cap. Volume change of bitcoin is around 8B$ within 24h.
Yet again bitcoin were sold with the surge of the price of bitcoin and altcoin. It usual to suspect the dip in the price after this much of bitcoin sold and the price will be pushed off.
Bitcoin is not expecting to soars upto 8000$ might be even low, or consolidates at the current rates for a while.
Trading is very much risky at this time but a small trades could be well profitable.
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