Bitcoin Forum

7000 BTC was moved to Bittrex.
There are rumors that MtGox is involved in this. There are some implying association to Mt.Gox, Bittrex wallet and even Winklevoss.  But in any case, trying to sell them quickly can reduce the price of bitcoin.

https://bitinfocharts.com/bitcoin/address/16rCmCmbuWDhPjWTrpQGaU3EPdZF7MTdUk

As soon as the price grows, it is lowered down again.
Do you still think that this is a coincidence?

Bitcoin prices also fell from US $ 14,156. Whereas Bitcoin was able to start stronger at the beginning of last year, and continued its momentum to finally create a global euphoria for cryptocurrency. the movement of Bitcoin tends to fall because it does not have a factor underlying their value.

Mt. Gox again?. Maybe it will be the last time they want to drive the price to go down again. If they fail again bitcoin will surge going up.

As I know Mt.gox funds has been frozed up and they cannot sell their coins untill september or whatever(just read it but not sure with this) but if that claim is true then it can hurt the bitcoins stability and mayne we may suffer from huge fall. I just wonder why this Mt.Gox issue keeps stopping the surge and hope they will done for it and let the bitcoins price go fly.

Exactly, before the trusty can moved out the coins he needed some court order to do that and that is on September. So I don't know how he was able to do such move.

I don't know, but I remember one member created a simple apps to track the movement. Here is it:

http://coindata.info/mtgox.php

I don't see any movement there as the balance is still 162105.84 (at least the remaining balance as far as I know).

Hmm mt.gox never get bored to push the price down, you're right sir! If this urge fails, then there will be an unexpected price spike. Even in my personal opinion, the price will greatly increase to a higher level and most likely, traders and investors will again multiply all its profits.

The fact that the price of bitcoin will decline can not even doubt. Whales chase bitcoin mtgox on all exchanges. They already know all the account numbers and won't let their coins out of hand. I want this to end quickly. Mtgox depositors lost money twice. The first time hackers broke into the stock exchange and the second time they became victims of whale hunting.

We're moving within an obvious range, where we failed for the second time to break through the fierce resistance around the $9000 level. In other words, failed attempt will push the price back to the lower end of the range (+$8000'ish), to charge itself up for another attempt next week. It will be interesting to see if the third attempt will do it, because if not, there is a higher chance for it to dip below $8000 again rather than to charge up for another attempt. Either way, it makes no difference for those who are looking to buy themselves some coins for long term holding purposes.

What I saw for the price movement it just a slight fall down and I think the 7000 bitcoin is not from MT.gox and I think they don't have the plan to sell them all and maybe bittrex owes that amount of bitcoin that I think they will use for selling bitcoin not for helping push the price down.

If they are planning to push down the price well the price should be decreased a lot, but look at the price movement it getting increases again.

Better to support bitcoin and hold and don't spread any FUD to prevent panic selling.

I'm not afraid of panic. I'm surprised to hear that people are afraid that the price of bitcoin will fall. It's okay. The more bitcoin price falls the higher it will rise later. Selling bitcoins mtgox also does not scare me. All these coins were already on the market. Now their will buy the other is a master and the price rebounds. I don't see any reason to panic.

Is this a Bittrex address? Even if 7000 BTC was moved to Bittrex, it can't be Mt Gox or Winklewoss. Those biggies would be interested in converting bitcoins into fiat, whereas Bittrex is a crypto only exchange. So there is no fear of a Bitcoin collapse. These might be used to pump an altcoin, but it would be impossible to figure out which one that might be.

I think this is a common thing, I think more of it being done by someone. And we all know that bittrex is a quality exchange so the trust factor is the most likely reason in my opinion. Maybe you want to say that there is something strange and awkward, but we are all on a very difficult path to predict. Any news can be true and can be wrong. So I think we should always assume a positive because it can make the level of confidence in bitcoin increasing and that will increase the bitcoin price as well.

it already is getting a dip with in the price,  This is a collaborative manipulation of the price and schemingly up to something we already have a February red days month and right now March is getting a repetitive outcome of that same month, But I really think they can not mostly control bitcoin and it will still continue to recover in value even if they had a plan to destroy it, It is pretty impossible to do such thing a currency that is decentralized.

I believe someone is pushing the price down with these MT. GOX stuff.  The decision is on September, so this news about the MT.GOX fund is clear to  say as FUD to spread panic to people and shaken weak hands because we all know that there is a huge chance that Bitcoin will be bullish during April and May  month.

it seems that the price will decrease by a few percent again, that's just 5k bitcoin alone that tell how the total bitcoin that MTgox has used to destroy the price until it returns to the lowest point again is sure this is very horrible, MTgox can be a bomb of time that can explode anytime knocking down the bitcoin price.

Whatever the current situation is, even the price went fall down because of this issues we would not decides to panic selling. Their is a tendency value could go lowered again, thus it is not long we can experience this down market.

I also believe that MtGox is behind it all. 7000btc is a very large number and it is not possible for ordinary people to make such transactions by transferring to exchange. and I'm sure if 7000btc is on sale. it could cause the price to crash again

haha, i knew it is going to soon become the "new thing" that people use to talk about bitcoin price and how it is going to drop because some coins moved!
the blank amount of bitcoin moves is the new China banned bitcoin now :D

and the funny part is, just like China banned bitcoin, this moving of large amounts happens too often. i dare say every day some large amount of bitcoin is being moved.

These words "Bitcoin will go down" just sound like someone trying to spread FUD, though i don't know if that was your intention. Nevertheless, you should get your facts straight because, as some people have said, the fate of the remaining btc from MtGox are in the hands of japanese law, the trustee can't just go around moving thousands of BTC.

About 7000 BTC, who said MtGox are involved in this? if you don't post some kind of reference then it looks like you're the one spreading such rumours.

No, those coins belong to a bittrex operation (they're probably just moving 7k btc from one cold wallet to another, or someone is withdrawing btc) but there are no connections to mtgox.

I do not think that bitcoin can go down for less than 8k US dollars for a long time. As with the bitcoin price below 8k, such corporations as AMD and Nvidia will begin to suffer serious losses from the loss of consumers of their products. This is only related to mining.

To be honest, no one cares about NVIDIA, AMD, and such other shits, so for me, it is all fake and the price will never go lower than what it is right now.

it touched the bottom last month, and it was the lowest price that it could be.

Good one optimistic, lets get back on last year a moment when Roger Ver gangs behind BitcoinCash want to break down Bitcoin price from market, but it was failed, Bitcoin has recovery and still keep momentum become #1 Crypto coins in the market.

There may be a fluctuation in the price of bitcoin now.But the price of bitcoin will not move to lower end now.I think the price of bitcoin is moving towards the 10k$.I had checked in coin base,the price of bitcoin is above 8600$ and not 7000$.If any country made a bitcoin as illegal,we are forced to see this 7000$ in the market.

It can't be the MtGox guy, as he need to wait the next court session before able to sell again. The session is pointed for Q4.

If you have 60M in BTC and want to manipulate the market for some reasons, then OK, a quick dump can happen. But if you sell it 500 a day just turn it into fiat, nobody will notice it.

As far as the current situation the price of bitcoin is very less when compared to last year. But the price will not go down drastically. There is a small pump and dump happens when you watch coinmarketcap. So bitcoin will never go let down. The bitcoin market will come up again with huge growth.

Yeah, bitcoin and other crypto will survive on this matter having this news all over sucks, but once it became done it will sure make another ATH.

Don't be scared guys and control your emotions 'cause indeed it always happened and after this scenario the price will continue to grow for sure, and perhaps it will never go below 7k just keep holding.  it's just a fud's which trying to manipulate the price to buy in a cheap price. 

these two are not even related!
bittrex is an altcoin exchange platform not a bitcoin one. it has a bitcoin/tether market but last time i checked not only tether markets on exchanges like this didn't affect the price but it also doesn't even have enough liquidity to do anything.

Yes if there is any dump due to market situation it's natural for any business or any product but when it comes to crypto people end up selling all the crypto coins they have during price dump which effects the market negatively.

The problem is that too many people are easily swayed and for those newbies who are reading this thread, the title is somewhat misleading as I believed that the Mt. Gox trustee can't moved the coins without any court order so I don't know if this is a deliberate misinformation or someone is really manipulating the price from behind so that they can purchase cheap bitcoin.

And you will noticed that so called experts are seeing a price of $7K, which I don't think is possible as we have strong support at $8K levels.

Look, there is no point speculating whether Mt Gox is doing this or not. Just because someone moves coins doesn't mean that they are going to dump it all at one time or they're going to sell any at all.

The major resistance so far has proven to be along the lines of $9k. BTC did breach it once but failed to hold its ground above that level. Second time, it was unsuccessful at even hitting $9k even though it was well within reach.

So it's clear that there are bears keeping the prices down below $9k. Whether it's going to be Mt Gox behind this or Winklevoss twins dumping I don't know and I don't think it's ever going to be confirmed. Though doesn't matter who's dumping - someone is taking their profits now and feeling bearish. We may drop back to $7k-8k range but for now, we're probably going to recover up to a level close to $9k and test it again, if it doesn't reach it, then we may truly be in a bearish state for a couple of months.

Conspiracy theories once again! because the price of Bitcoin is not rising that doesn't mean this is true or Bitcoin will go down for the nth time.

If it really was move to Bittrex does that mean it will be withdrawn into Fiat? then if that the case maybe it will affect the price of Bitcoin because 7k BTC is big but if I am the owner of that big numbers of Bitcoins I will not sell it today because I believe that the price of it will rise soon.

Please calm your tits, you are just assuming things that will feed your imaginative mind.

Yes for sure it will go down and I think will go down more. Bitcoin is not that indemand nowadays because also with its price right now that's why there is only less people who are interested in bitcoin. Maybe if bitcoin price will go up, many people will get back their interest with bitcoin again.

Indeed looks bitcoin will fall, but there are more likely that the bitcoin will come back up and to the invested it will be felt confused what to in doing, whether to sell or holding bitcoin

You are not right. Interest in bitcoin is not reduced. Whales manipulate prices that's true, but it doesn't know that the number of users is decreasing. Many coins are concentrated in the hands of several people. This allows them to manipulate prices, but does not affect the popularity of bitcoin. The price will rise after the coins disperse among a large number of people.

Whatever may happen I do prefer holding my bitcoins even bitcoin may break the previous bottom. But I do foresee that is not happening. I have been hearing the rumor (though still a rumor anyway) that the MtGox guy is pausing till September, so in the long run, you can just decide to view that bitcoin will bounce back or not until the further notice. ;D

Apparently, whoever is not bullish on bitcoin in the long run is definitely not supposed to be here but I sure would not mind a very low price like you said and anyone who wants to panic should watch me at the top as I keep getting more profit in the long run.

This can be due to this Mt. Gox Sell Off Paused Until September – Will Bitcoin Price Reach $20,000 Again? (https://usethebitcoin.com/how-will-bitcoin-react-to-mt-gox-sell-off-pause-until-september/)  and what they want to do is sell before it all ends. Well we are all guessing who's behind this but don't make the people panic.
What's with that fall Just because someone wants to sell those coins it will be the fall of bitcoin? Don't think that way. Everyone wants to earn bitcoin and we are just in little situation while owner of those bitcoins does hold a lot.

After a days of pumping not bitcoin is dumping again, but for me there's no reason to be scared. This is a great market, wake up! look at how every government showing some interest to support this thing simply because they know the opportunities of cryptocurrency in the future.

you don't know if the price will go down, which means you're just spreading the fud. The reason could be that you're trying to decline the price to benefit from shorting your coins..

Oh yawn, since when has 7000 bitcoins meant anything these days? Enough Mt Goxxing, this is the pullback that was bound to happen after the G20 attribution last week. Bears are gathering round this wintering market. The US Taxman has a mid April deadline before it starts going after all the people supposedly evading tax, so that might play a little into crypto sentiment in North America. Any hopes of Bitcoin stabilizing during the remainder of March seems to be fizzling out today, but there's still plenty of positives to take from Bitcoin's resistance at these levels.

Can't say I'm upset we didn't see 9.5k as I thought last week. Just more buying opportunities, I say.

As you say it is just a rumor, no exact evidence that Mt.gox trustee is the owner of that bitcoin address as they are currently under investigation for the said notion, maybe some other people owned that address containing 7K btc it is not possible that other people still possess large sums of bitcoin from their stash, the thing is you cannot stop people from selling their coins as long as your not dumping bitcoin like the trustee did if he was guilty of that, bitcoin will always come down but not stagnant from the bearish market.

Different rumors every now and then. I thought there was a rumor before on this MtGox Trustee halting his selling spree till September. So now, Winklevoss too is involved? And because 7000BTC was moved, we just attribute it straight to MtGox? Please!

It is becoming tiring and boring with the whole rumors and I hope all these are not just some final attempt to shed more weak hands from the market. From the look of things though and from the impulsive dump in the market today, it seems the bulls are not even ready to take charge and we may just have to live with some sidewards movement for the mean time as there is so much indecision in the market as to where we are even going next, but I personally do not see any need to worry until there is a need to worry.

In fact the current bitcoin price has gone down and this will make everyone panic and fear the bitcoin price does not go back up.
I hope in April this situation will be over soon and the price will grow again as soon as possible.
I'm afraid if the price keeps going down, someone's interest in bitcoin will disappear and they will switch to altcoin that has good potential, then bitcoin automatically will not be worth anymore.

Only noobs think like that. Every bit of volatility, decrease, etc, we experience in the short term, doesn't harm the long term price, just look at the charts to see.

What's so special about April to suddenly change the sentiment? People need to chill out and accept that the market can't keep pumping endlessly. People also need to look at facts, and the main fact is that even at current levels, we're still $7000 higher than last year's price, which even for Bitcoin is quite an insane increase. Allow the market time to adjust itself.

Lol, you are pathetic. The entire crypto market is tanking, which implies that the overall short term demand just isn't there. In other words, it has nothing to do with people switching to whatever shitcoin. It's mind boggling how some people don't even manage to understand the basic principles of this market. ::)

For such people, I advise to look at the situation as a whole. And the situation is that bitcoin increases in price year after year. Many factors affected the price reduction from 20,000 to the current 7,000 and all were expected.

Don't panic, think with your head

Where did all these rumors originate from?

There are other large transactions that have occurred with that wallet recently

Were there any major decreases in the price of Bitcoin then?

i think its a normal trading event after the big dip lots of uncertainty in this consolidation phase and a lot of factors affecting it, i think the best way to play this is to buy the dips and long hold for about 3months, i thin its the safest way to deal with.

after reading some of the news, and there is really no indication that mtgox is behind it, we are only surprised by the displacement taking place on a large scale. mungin was just a panic from some circles that trigger hoax news from some media

I think this might be the reason why bitcoin is dropping in price since three days ago.  If this is really then bitcoin may drop further in days to come and we should be prepare to buy bitcoin now as we would be get it at cheap price and mtgox will sell of everything and one day no more bitcoin to dump.