Re: Mt. Gox cold wallet moves 8200 BTC. Might this be the cause of the latest crash?
Before anyone accuses me of spreading doom again as someone told me hehehe, this thread is for the sake of speculation and discussion only. Please humor me.
In any case, I was under the impression that the Mt. Gox trustee was given a court order not to touch those coins. I do not know what really happened, but the timing of the transaction and the market dump hours later is very conspicuous.
The transactions from the Mt. Gox cold wallets occurred in the early hours of the morning in Europe and 11 pm EST in the US. The transactions were sent to the address 1LncfoCX1yzuiW3hzejarvgZ1WahnAQ4o4 and totaled 8,214.97084 BTC, which is worth around $76.7 Million at press time.
The original movement Mt. Gox funds are thought to have kicked off the bear market starting in January of this year. But this time its different; institutions are coming to the crypto markets, and how these markets will react to this new movement of funds remains to be seen.
Read more https://blokt.com/news/mt-gox-cold-wallet-moves-8200-btc-will-bitcoin-dump
In any case, I was under the impression that the Mt. Gox trustee was given a court order not to touch those coins. I do not know what really happened, but the timing of the transaction and the market dump hours later is very conspicuous.
The transactions from the Mt. Gox cold wallets occurred in the early hours of the morning in Europe and 11 pm EST in the US. The transactions were sent to the address 1LncfoCX1yzuiW3hzejarvgZ1WahnAQ4o4 and totaled 8,214.97084 BTC, which is worth around $76.7 Million at press time.
The original movement Mt. Gox funds are thought to have kicked off the bear market starting in January of this year. But this time its different; institutions are coming to the crypto markets, and how these markets will react to this new movement of funds remains to be seen.
Read more https://blokt.com/news/mt-gox-cold-wallet-moves-8200-btc-will-bitcoin-dump
I think this is the one of main reason for this fluctuation.The bitcoin price is reduced to 83000$,due to his one single transaction,the price is collapsed.If you are experienced trade,you will buy a bitcoin with the savings money.This will make some panic in the market.