40,785 Bitcoins transferred away from Exchangers.

[hatshepsut93]

If you look at the charts, there is no strong correlation between coins moving away from exchanges and price growth. In fact you can clearly see periods when coins are moving away and the price still goes down.

IMO there is no metric that can help predict Bitcoin's price. Bitcoin price has always been chaotic and taking people by surprise. The only more or less stable pattern is that there's a big bull run between the halvenings.

[franky1]

If you look at the charts, there is no strong correlation between coins moving away from exchanges and price growth. In fact you can clearly see periods when coins are moving away and the price still goes down.

IMO there is no metric that can help predict Bitcoin's price. Bitcoin price has always been chaotic and taking people by surprise. The only more or less stable pattern is that there's a big bull run between the halvenings.

agreed there are no correlations between coin moving out of cold wallets vs prices. .. especially in this topics example where the coins never really left binances control. it just moved from cold to hot to cold in the same week

..
that said you cant predict the exact price bitcoin will be. but you can find the value window the price sits within to then gauge if bitcoin still has a way to go before bottoming out or if its near bottom already
https://bitcointalk.org/index.php?topic=5382559.msg59053731#msg59053731

[Alisha FR]

I think will not success yet if selling all stolen bitcoin from bitfinex exchange for other exchange market, almost 24 hour after transaction still not any bad impact with bitcoin price, if success sold on other exchange market I think 40,785 Bitcoins will make price dump drastically. Last activated on 2016 and now hacker back to active his assets on bitfinex exchange market, I hope not any impact for bitcoin looks recovery and back again to higher price.

almost all of us think like that, but it is not an easy act for hackers to sell openly, because the developers of bitfinex will also make efforts to recover its assets in various ways and at least they give warnings to current users.
it's actually very unlikely for hackers to drop the price of bitcoin just because they want to make a profit.
"Could this be a conspiracy?"

[perfect999]

I think will not success yet if selling all stolen bitcoin from bitfinex exchange for other exchange market, almost 24 hour after transaction still not any bad impact with bitcoin price, if success sold on other exchange market I think 40,785 Bitcoins will make price dump drastically. Last activated on 2016 and now hacker back to active his assets on bitfinex exchange market, I hope not any impact for bitcoin looks recovery and back again to higher price.

almost all of us think like that, but it is not an easy act for hackers to sell openly, because the developers of bitfinex will also make efforts to recover its assets in various ways and at least they give warnings to current users.
it's actually very unlikely for hackers to drop the price of bitcoin just because they want to make a profit.
"Could this be a conspiracy?"

So, it was bitfinex that got hacked? I thought it was some kind of whales that moved his funds but I do not think hackers will care on the price of btc but as long they sell what they stole and make a profit, that is already good for them. If they dump all the coins at once, that can surely have a negative impact on the price because we are talking about 40k bitcoins here and how much is 1 bitcoin now? 30k'ish something ? That is a lot of cash if summed up.

Still, I do not think they can dump all what they got because they can be easily tracked that way but pretty sure they will sold it slowly and for them to be not tracked easily, they will try to use a bitcoin mixer.