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Question: Is the recent price crash due to the Winklevoss selling their bitcoins?
Yes, it is certainly them infuriated by the SEC rejection - 4 (30.8%)
No, someone else is doing something nasty - 9 (69.2%)
Total Voters: 13

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Author Topic: Are the Winklevoss twins selling off their Bitcoin stash?  (Read 1296 times)
pearlmen
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March 18, 2017, 08:42:09 PM
 #21

We have seen the price crash abruptly after the SEC rejected the Winklevoss ETF. But within a day after the announcement the price rebounded strongly to almost where it had been before. Now for the second day in a row Bitcoin is making lower lows but it is still very resilient and rebounds powerfully. So it looks like someone is pouring plenty of bitcoins into the market in a (likely) desperate attempt to ignite a severe panic sell-off (say, down to 700 dollars per coin). Could that be the twins themselves? They should feel pretty frustrated now and thus may decide to revenge blindly

And strike back by dumping their coins while the iron is hot

This assumption is not only faulty but wrong in its enitirety in my opinion, because there is no evidence to show that the twins are dumping their coins as this is not the first time that the price of bitcoin will drop and the twins didn't drop as at the time so I don't think its now ok to trace the fall to them and how do we even know if they have enough to cause a change in the direction of the price of bitcoin.
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March 19, 2017, 02:48:12 AM
Last edit: March 19, 2017, 03:01:38 AM by deisik
 #22

We have seen the price crash abruptly after the SEC rejected the Winklevoss ETF. But within a day after the announcement the price rebounded strongly to almost where it had been before. Now for the second day in a row Bitcoin is making lower lows but it is still very resilient and rebounds powerfully. So it looks like someone is pouring plenty of bitcoins into the market in a (likely) desperate attempt to ignite a severe panic sell-off (say, down to 700 dollars per coin). Could that be the twins themselves? They should feel pretty frustrated now and thus may decide to revenge blindly

And strike back by dumping their coins while the iron is hot

This assumption is not only faulty but wrong in its enitirety in my opinion, because there is no evidence to show that the twins are dumping their coins as this is not the first time that the price of bitcoin will drop and the twins didn't drop as at the time so I don't think its now ok to trace the fall to them and how do we even know if they have enough to cause a change in the direction of the price of bitcoin

The absence of proof is not proof of absence

Indeed, it is not the first time when the price crashed. It is not even the most severe crash that we have seen as of lately (at least, so far). Say, earlier this year the price had crashed to 750 dollars per coin, and we have another 200 dollars to go yet (though we started not so high back then). But this time is not that time. Should I tell you that this drop happened a week after the Winklevoss ETF had been rejected? You will have to reconcile this fact somehow with your claim if you don't want to sound like a criticaster (note that I don't tell you that you are, for the benefit of doubt). As to me, they have more than enough reason to dump their coins right now (at least, some part of their stash). As I said above (and repeat again), Bitcoin is now no more than a boat anchor to them

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March 19, 2017, 03:03:15 AM
 #23

I highly doubt it. Their clients are relying on them to have bitcoins in the future so they couldn't just sell everything off. That and I think you're overestimating how many bitcoins they really have lol.
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March 19, 2017, 03:09:11 AM
 #24

Meh.  Could be, but how are we ever going to know such a thing?  And they always seemed way too enthusiastic about bitcoin to dump their holdings--but I could be wrong.

Whatever it is, we definitely got pooped on hard in the past couple of days.  And man, if I had dough, I'd be buying.

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March 19, 2017, 04:44:44 AM
 #25

I highly doubt it. Their clients are relying on them to have bitcoins in the future so they couldn't just sell everything off. That and I think you're overestimating how many bitcoins they really have lol

What is your evidence?

I mean that they have "clients" which are somehow relying on the twins. Basically, there are two aspects which you may want to specify and clarify. First, you should provide evidence that they do actually have these clients and that the latter are involved in Bitcoin (i.e. not just some abstract folks whose money the Winklevoss might be theoretically managing). And then comes the most important aspect, i.e. you have to somehow substantiate your implicit assumption that they can't really sell bitcoins (their own or those of their clients). The latter point seems to be most doubtful

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March 19, 2017, 05:57:30 PM
 #26

There is a chance that they may be doing profit booking now. If I am not wrong about it, they purchased the coins in mid-2013, when the exchange rate was around $100 per coin. But even if that is the case, I don't think that they will sell more than 20% to 25% of their holdings.

 
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March 19, 2017, 06:10:23 PM
 #27

I do not think it was Winklevoss brothers. They are so many people earning a living on bitcoin/altcoin trading. With the potential positive news turned soured, I guess many of them were just trying to cash out to secure the earning built before the announcement of the ETF.

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