Bitcoin Forum

The US Marshals will be auctioning off approximately 2,170 BTC in slightly more than a week. There is already some discussion on whether this will affect BTC prices and subsequently altcoin prices as there is already some fear over what happened during the Mt.Gox dump.

The good news is that it seems like the markets will not be involved in this transaction and thus the impact should be minimal.

What do you think?

https://www.cryptoinfomag.com/2018/03/11/us-marshals-auctioning-off-about-2170-btc/

Little impact they say, but still that auction winner sell the bitcoin he buy at the market and can cause the price dropping hard. Who dont want to sell bitcoin he buy from auction at 4k max bid and sell it to open market at 10k

If this is the main reason, it actually affected my coin which is INS. It went to $1.5 from $2. I hope my coin recovers soon because I really hate to see it dropped really low because I didn't expect it to go like this.

Not that impact to the market but some rumors saying that this crash is due to binance got hacked.

https://www.forbes.com/sites/jessedamiani/2018/03/07/crypto-market-drops-amid-rumors-of-binance-hack/#43ef83ef4d00

There are some articles saying that it is due to binance hack, but the CEO of binance said that all funds are safe, so i dont know if the rumors were true or just another FUD.

I think the market can absorb another 2000 bitcoins going into circulation. It's actually a small amount when you consider the demand of it. The worrying sell is mt gox, that's the one to keep an eye on. 180k bitcoins is going to tank the market, but i'm sure it will recover over time

It will likely be an auction so a big player will be buying all the coins so that shouldn't have any effect on the market. Also this is small amount in comparison to what the MT GOX trustee was dumping.

I do not think it will have a significant effect, because this is positive, because indirectly the US Government recognition that Bitcoin is a very valuable asset, but the Chinese issue is supposedly planning further crackdown about cryptocurrencies I think will have a bad effect, this references https://coincodex.com/article/1352/china-suspected-plan-more-crack-on-cryptocurrencies/, because Asia is one of the biggest cryptocurrency markets

of course, it will impact all prices for crypto. but I think it would be just another opportunity for shopping when the market falls after this dump.

2,170 BTC is relatively small amount to make any significant difference on the price of Bitcoin, in my opinion. Daily transactions with Bitcoin are over 30 times more.

That will not give any impact to the market, that was different with mtgox dump which sent amount directly to the exchange site and then dumps it at the same time to make a lot of people are feeling panic to sell their bitcoin as fast as possible. I can say that if auction was a better method to sell a lot of amounts rather than send it to the exchange market.

I don't really see how only 2,170 BTC could affect the market. If we were talking about 10k BTC ok, that could be a problem, but a little more than 2k absolutely not, they're not enough, the market would absorb it without any problem.

so therefore the market all altcoin changed color to red me as token holder and altcoin was panicked by seeing the market i hate this and hope it soon recover and the holder soon gets the profit

The Mt.gox trustee has sold a much larger amount of Bitcoin several times since the start of this year. I would be surprised if it had any long lasting effect. But you can't be sure how the media will spin this news.

Drop the in the bucket in comparison to what the Tokyo dude was doing over the past couple of weeks to months. However, this is crypto and the markets do over react to every little thing heres hoping that isn't the case this time.

I think for the influence of the whole market is not a big thing, really makes the encryption monetary market recently there was a huge losses because of March 14th America is going to hold a hearing on the ICO and altcoin.

Well, everything depends on the buyout price. And I highly doubt that it will be way lower then the current market price (I expect it to pe approximately the same). This auction will affect the pricee only in case someone will buy those coins and dump it immediately (which is less likely if the buyout price will be adequate) then BTC will be dumped. It also shouldn't pump the price because the whole deal will happen outside crypto exchanges that are forming the price.
It may only bring some sort of FUD but nothing more.