Mt Gox CRASHES Bitcoin and Cryptocurrency Market! ($500m Selloff)

[Goosebump]

Hey everyone, I know I haven't been posting my videos on here too much but I need to get back to doing that because I love the community here and the discussion that is had.

So, today I woke up and almost pooped my pants because of the 10+% losses on just about every coin in the top 100. So i was searching for a reason for a while and here are a few things I found, check it out and let me know your thoughts!

Thanks guys!

Link : https://www.youtube.com/watch?v=cW5BVQBcC24

[mrtryonebiggums]

While that could be what is making the crash happen, I saw this on reddit and think it is worth mentioning here. Not sure if most was already sold but it was transferred prior to today.

https://www.reddit.com/r/mtgoxinsolvency/comments/82m0dl/mtgox_trustee_has_sold_some_btc_and_bch/

[pri3oner]

Today is a day almost 2 months of alts falling. When the spring comes in and let it grow with vitable beams of the Sun? That's the question...

[goldenatom]

Wow, can't believe that's still causing us problems. Very painful watching the selloff today. It really looks like we'll be in a sustained bear market for quite some time. Good news hardly makes an impact, while even the smallest bit of bad news results in massive selloffs.

[Goosebump]

Wow, can't believe that's still causing us problems. Very painful watching the selloff today. It really looks like we'll be in a sustained bear market for quite some time. Good news hardly makes an impact, while even the smallest bit of bad news results in massive selloffs.

They still hold 166,000 bitcoins lol!

[StarLawl]

I wish they would just sell it of - so I could buy some of them very cheap. Have that hanging over the market, that there is a possibility that they would just drop the bag into the market. They could for instance be auctioned of or something. So everyone has the chance to acquire one of them? How it is now, remaining bitcoins is said to be distributed to stakeholders, how on earth is that guy who where in charge of the Mt.Gox failure still in control of the bitcoins?

[squatz1]

Mt Gox has been selling for a pretty long time, I think this was just a mass selloff and something like that is going to freak the market out. I wouldn't know why they're selling now instead of selling at 20k but I guess they'll do what they'll do.

I would think that a ton of insiders had this information too, which probably led to a bigger selloff anyway. This market is fucked, like every market.

[PokerStein1]

I think this kind of news show that why we need some regulation in Crypto world. We want a fair market and i hope we will get it in future.

[beskid]

According to analysts, the rate of "electronic gold" falls due to news about lawsuits filed by US citizens to the major trading crypto platform Coinbase.  At the first lawsuit, the employees of the exchange were engaged in insider trading, knowing in advance about the planned listing on their platform of the Bitcoin Cash breakaway from Bitcoin.  In the second lawsuit, the crypto platform was accused of fraudulent retention of funds.  Recently, the trend of strict control over cryptology in the world is gaining momentum.  In the United States since the new year introduced taxes on the exchange of bitcoins, China plans to ban the mining of bitcoins, the authorities of India will take measures to eliminate the use of crypto-active assets as a payment system, and in France online platforms have toughened operations with digital currency.So negative news is enough to crash the entire crypto currency market.

[eaLiTy]

Literally they are back in the news because of their massive sell off in the past two months and they sold a massive amount of coins in bitcoin and bitcoin cash and expect more sell off from the team when the get the courts approval to liquidate their coins,so there is a real possibility to see the market go down simply because of these massive sell offs and more over there is another news from SEC that every exchange must register with them ,these two have driven the price down.