Forbes wrote yesterday that "the bitcoin price might struggle over the short term due to the $2 billion PlusToken scandal", but I tend to agree with the words from thenextweb's article, namely with "correlation doesnt exactly mean causation". I think the current market can easily devour 20,000 BTC, that is, according to the article, "is still waiting to be dumped", without even noticing it.
What do you guys think?
45,000 BTC and 800,000 ETH -- around $400 million -- is a considerable amount for the spot market. During market conditions like 2017, it could probably absorb that easily enough, but in 2019? I'm not sure. I imagine it's having a non-negligible effect.
The PlusToken scammers are slowly offloading to OTC brokers, who are then pressuring exchanges like Huobi down. Arbitrage among the global exchanges handles the rest.