What if this guy with 96,651 BTC suddenly cashes out?

[imapessimist]

The price is now the highest that it's been for 30 days.  If I was one of those big superwhales I'd sell now and then buy back at a lower price.  They'd make a lot of money doing that would they not.

[yaniman]

If i had these bitcoins, i could never sleep, i guess, i would constantly check the account. I would be a paranoid

[xderek]

It is interesting that this might not even be one person, but an organisation, and for the benefit of the whole it would require to flourish the business, not go in doom and gloom.

[DistantFart]

He will sell 96,651 Bitcoin.  100% true.

 On the FLIP side people do fear large wallets like this can be seized by governments in unilateral moves against BTC, obviously not every country in the world is free or legally justified.

i've thought about this, but if it's a hardware wallet they would have to physically break into your house or something on anecdotal evidence. that's pretty dystopian.

[batang_bitcoin]

https://blockchain.info/address/3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64

Currently circulating supply for Bitcoin is 16,874,375 BTC.

Does this mean an insignificant drop of ca. 0.57%?

I'm getting crazy by checking out the wallet address and he mostly purchased those thousands of bitcoins on December last year.

It is interesting that this might not even be one person, but an organisation, and for the benefit of the whole it would require to flourish the business, not go in doom and gloom.

I'm thinking that this is the JP Morgan Chase but don't get me wrong as this is my opinion. Can you remember when Jamie Dimon spread that bitcoin is a fraud and then later on his company bought some?

[strickland]

The price is now the highest that it's been for 30 days.  If I was one of those big superwhales I'd sell now and then buy back at a lower price.  They'd make a lot of money doing that would they not.

If  that guy cashes his Bitcoin then it would be a regretful experience if he does it. Bitcoin is just warming it up.

[real_links]

If he cashes out. Nothing spoil people will buy it. And life continues. The price might not really shift.

[Evangeline2]

Do not have what thing, he should be in the short term will not sell, sell it will only make the circulation of currency will be more, instead is a good thing, a lot of those who hold COINS are very bullish on the currency.

[appleyard]

https://blockchain.info/address/3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64

Currently circulating supply for Bitcoin is 16,874,375 BTC.

Does this mean an insignificant drop of ca. 0.57%?

Wow this is guy is rich yes this will have an effect to the value of bitcoin if this guy sell it, it will add to the total circulating supply, how did you get the .57$ drop? the .57% of the current bitcoin circulation is 296041 btc? i want to know what is the computation of this thank you.

[BitChief]

https://blockchain.info/address/3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64

Currently circulating supply for Bitcoin is 16,874,375 BTC.

Does this mean an insignificant drop of ca. 0.57%?

Wow this is guy is rich yes this will have an effect to the value of bitcoin if this guy sell it, it will add to the total circulating supply, how did you get the .57$ drop? the .57% of the current bitcoin circulation is 296041 btc? i want to know what is the computation of this thank you.

Yes there is a very significant risk if some of these whales began selling. I believe however that these guys are not stupid, they have been in and watched this market for a long time. If they want to or need to sell they will do it slowly over time.

[Golftech]

If he cashes out. Nothing spoil people will buy it. And life continues. The price might not really shift.

Which is correct if he sell that though it will reflect to the current price and a huge dumped will happen, but still people around this chain will buy that and be happy as they really waiting for that to happen to have opportunity to earn more, I'm not in the position of saying what can be the outcome of any action coming from that amount of btc if in case the owner/owners will cash that out, maybe I'll be going to save some spare money to buy them so I
can have some part of it coming from a much cheaper price.

[darkangel11]

The price is now the highest that it's been for 30 days.  If I was one of those big superwhales I'd sell now and then buy back at a lower price.  They'd make a lot of money doing that would they not.

They are already doing it. If you compare the amounts being sold and bought at exchanges you'll see a pattern. Usually when there's a dump followed by a pump you have the same amount of coins like 5k or so sold at one day and bought back within a couple minutes a few days later.
The problem with big investors is they are afraid to move money around. If you had 10 million USD in cryptocurrency, would you risk keeping it on an exchange where those money can be hacked, or stolen by the exchange itself? Why would you want to have more if the value of your investment is growing anyway and you already have a lot of money? Many people had their money blocked on an exchange or had to write tickets and wait for them to process the withdrawal. Exchanges are the weakest link of the system.

[doublecoins]

if the cash 96651 btc cash out then prices will fall all of sudden

[Serdaldal]

If this guy is crazy he can spoil the money or he can spend it so he can go down but if he gets mad at the mad hospital he will have a rich family so money will not go another.

[freshm4ker]

For me, if he wants to spend the cash it will cause great movement through the crypto world. I would like to think if you have a lot of bitcoin you see how it can be used in the future and not just be a crypto currency for quick profit.

[ciciteng]

People with that amount of BTC is not that stupid.
Think like they will keep it there for a very long time, or they will cash out it in batch. When they sell a lot, the BTC price will affected and the next batch will be lower then previous one. So, its a lost.
No, that kind of people will not that stupid 
Even if they really dump those big number of Bitcoin, a lot of strong hand will thanks to him/ her because having another crypto shopping

[vfrcbv91]

I'm afraid if this guy sells all his bitcoins, the market will fall: D. Look at the order book on bitfinex-96,651 BTC could lower the price to $ 3000!

[darkangel11]

I'm afraid if this guy sells all his bitcoins, the market will fall: D. Look at the order book on bitfinex-96,651 BTC could lower the price to $ 3000!

Bitfinex isn't the only exchange. Somebody dumping 100k BTC there wouldn't cause the whole market to go below $3k. It would only crash finex and people seeing it would jump at the opportunity, knowing the other exchanges will trade much higher, especially the Asian ones, and that the market will recover very fast. This would end up being one of the best opportunities to make money and people would go from 0 to a millionaire overnight! Imagine how little 100k is compared to all the coins in the market right now. The real temporary dip all over the world after such event wouldn't be larger than $5000 and prone to a recovery to 10k within weeks. You'd be doubling your money on the same day and tripling it within months. If you believe this is going to happen start placing buy orders

[Pain Packer]

I think there is a limit of cashing out btc in a day so you can't just cash out all btc in one day. If ever that it is possible, markets will crash assuming that the transaction is fast. Bitcoin price will suddenly fall down but will recover in the following months. But can't really say.

[Jaya912]

If any of the big whales would suddenly cash out, Bitcoin's price could get quite a big hit. However, it is not in their interest to do it, since this way they would get far less cash than by selling slowly. On the other side, some super-whale could have the precise purpose to crash the prices so that he can buy the coins back cheaper. By the way, I guess this scenario has already occurred a number of times, perhaps even recently.

yes you are right. this scenario had been happen several time so we know how to handle it.
we dont need to be panic and sell all of our coin, we need more patience because we know this scenario is repeated more than 2 times.