Now We Know Who Sold The Bottom At $6k And Tried To Crash Bitcoin

[adolf512]

I heard about it too! Unfortunately, the negative news about Binance and this sale of bitcoins had an impact on the Crypto currency market and further lowered prices. We look forward to the early restoration of the market.

[1714826919]

1714826919

[1714826919]

1714826919

[TheQuin]

He is pretty dumb to sell at $6k when he could have sold those Bitcoins for at least above $10k OTC. Don't know how such people are even assigned tasks where they don't have any knowledge of the field.

Why do you think he sold at $6k?

Don't know how people are even assigned tasks when they believe everything that some random person writes on a public forum.

I didn't have time to check this yesterday bit as the numbers are clearly stated in the official document I have now checked.

35841.00701BTC sold for 38,231,389,537 JPY
1 JPY = 0.0094 USD so 38,231,389,537 JPY = 359,375,061.60 USD

So the average sale price was 10,026.92 USD, not the 6k claimed.

[Ozero]

The sale of just 20,000 bitcoins caused such a large drop in the crypto-currency market? If this guy has another 180,000 bitcoins, then he still puts us in trouble with the price of crypto currency. It seems that the further growth of the bitcoin course will not be cloudless.

[kiver]

The sale of just 20,000 bitcoins caused such a large drop in the crypto-currency market? If this guy has another 180,000 bitcoins, then he still puts us in trouble with the price of crypto currency. It seems that the further growth of the bitcoin course will not be cloudless.

that's almost half of the market cap we have today i don't know about the truth of this news but if it's true i don't know if it such a bad thing because as long as there is buyers there is sellers and i dont think the new holders would dump bitcoin like that guy did

[TheQuin]

The sale of just 20,000 bitcoins caused such a large drop in the crypto-currency market? If this guy has another 180,000 bitcoins, then he still puts us in trouble with the price of crypto currency. It seems that the further growth of the bitcoin course will not be cloudless.

that's almost half of the market cap we have today i don't know about the truth of this news but if it's true i don't know if it such a bad thing because as long as there is buyers there is sellers and i dont think the new holders would dump bitcoin like that guy did

You guys are not very good with numbers.

They sold 35,841.00701 BTC
They still have 166,344.35827254 BTC
There are 16,908,213 BTC mined at the time of writing.

How the hell do you make 166k half of market cap?

[alyssa85]

The sale of just 20,000 bitcoins caused such a large drop in the crypto-currency market? If this guy has another 180,000 bitcoins, then he still puts us in trouble with the price of crypto currency. It seems that the further growth of the bitcoin course will not be cloudless.

It's just FUD. This poor lawyer didn't cause the crash.

Also - there was nothing stopping people from placing buy orders around the $6000 point. If they had they'd be up by at least 33% up.

[Mark 360]

I read about Mt. Gox on few platforms and they stated that he still has 1.8 billion worth bitcoin. If he dumps a big batch of his bitcoin again then we might see bitcoin falling below may be below $5k mark. Still bitcoin have the tendency to grow and even after he dumps all his coin bitcoin will surely reach its all high mark gain but it will take time.

Apart from this the fall in bitcoin price in this week was also due to 2 more news. One the issue of hacking with Binance and second the policy of SEC which wants exchanges to get them self registered. Still hoping for the best.

[Xester]

I read about Mt. Gox on few platforms and they stated that he still has 1.8 billion worth bitcoin. If he dumps a big batch of his bitcoin again then we might see bitcoin falling below may be below $5k mark. Still bitcoin have the tendency to grow and even after he dumps all his coin bitcoin will surely reach its all high mark gain but it will take time.

Apart from this the fall in bitcoin price in this week was also due to 2 more news. One the issue of hacking with Binance and second the policy of SEC which wants exchanges to get them self registered. Still hoping for the best.

I wonder how many bitcoins does he has to make an impact on the price of bitcoin.  I believe there were still a lot of people who are owning greater value of bitcoin than what he have.  As to the topic you brought out, yes I believe that bitcoin price crashed because of these reasons.  I am still hoping for the best and believe that bitcoin price will goes up again.

[Tipsters]

And it was this guy – Tokyo whale and Mt.Gox bankrutpcy trustee who sold almost $400 million worth of BTC, some of it at the very bottom on Feb 6th. He crashed the market by 75% by selling the bitcoins in couple of rounds.

3.



The MT Gox trustee has sold half a billion worth of bitcoin and bitcoin cash between December 2017 and February 2018 it was revealed today.

He sold the first batch of 6k bitcoin on December 22nd, sending price from nearly $16,000 to a brief low of $10,800. Then he waited for market to recover and sold another batch of 8k bitcoins on January 17th. Which again produced the same effect – crashed the bitcoin price.

But he is not done yet – he does another sell on January 31st, this time it was around 6k bitcoins. But vast majority of bitcoins was sold on February 6th which implies that he actually tried to crash the market by selling at the bottom.

And guess what – the market absorbed it and jumped back up to $10k.

But what is worrisome is that this same guy has another 180k BTC up his sleeves, that he is looking to sell in the upcoming period and repay the creditors and users who lost their bitcoin in Mt.Gox hack.

This case makes it the fourth time for Mt.Gox to directly or indirectly crash the bitcoin price. First time was hack in 2011, then a DDos in 2013, 2014 is when they went bankrupt and now this sell off.

And as we have said, this trustee has another 180k bitcoins that will probably cause similar crash – that would be 5th or even 6th if he does it in separate batches.

Nevertheless, bitcoin has showed admirable resilience in spite of all the sell offs and this actually indicates that once Mt.Gox saga is over, bitcoin price should skyrocket and reach new highs as many have predicted.


Opinions?

Can I have links from where you have learned those? This topic seems very interesting because now we can know who the whales are. I believe that bitcoin will still skyrocket because their saga will be coming into an end. Plus, two whales cannot simply crash the whole bitcoin market because it has a very strong foundation. These sell offs should be prohibited since it poses as a threat into many users worldwide and it should be considered illegal. I wonder how where they able to exchange that huge amount of bitcoin without experiencing any problems because an exchange like that is very rare and hackers might be able to interrupt.

[aplistir]

so he has about 180 000  out of 21 000 000 ?

180 k out of 21 million.
wow he still has 8% of All Bitcoins !

180k/21000k= 0.8% not 8%

[MMostaza]

These are the first news that I have heard about the connection of the movements that Bitcoin has experienced since December with Mt.Gox. What I knew was that the investigation for the bitcoin theft is still ongoing, and that since last November more news are appearing.

You can find the information in this article: https://cointelegraph.com/news/the-mess-that-was-mt-gox-four-years-on

On the other hand, the article above is also talking about experts “suggesting” that the recent price drop of Bitcoin is related with a Mt.Gox trustee. There is some links related along the article that maybe you can check. I also find this one on reddit:

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

I don’t know it some of you guys can put bit of more light on these theories...

[owlman]

And it was this guy – Tokyo whale and Mt.Gox bankrutpcy trustee who sold almost $400 million worth of BTC, some of it at the very bottom on Feb 6th. He crashed the market by 75% by selling the bitcoins in couple of rounds.

3.



The MT Gox trustee has sold half a billion worth of bitcoin and bitcoin cash between December 2017 and February 2018 it was revealed today.

He sold the first batch of 6k bitcoin on December 22nd, sending price from nearly $16,000 to a brief low of $10,800. Then he waited for market to recover and sold another batch of 8k bitcoins on January 17th. Which again produced the same effect – crashed the bitcoin price.

But he is not done yet – he does another sell on January 31st, this time it was around 6k bitcoins. But vast majority of bitcoins was sold on February 6th which implies that he actually tried to crash the market by selling at the bottom.

And guess what – the market absorbed it and jumped back up to $10k.

But what is worrisome is that this same guy has another 180k BTC up his sleeves, that he is looking to sell in the upcoming period and repay the creditors and users who lost their bitcoin in Mt.Gox hack.

This case makes it the fourth time for Mt.Gox to directly or indirectly crash the bitcoin price. First time was hack in 2011, then a DDos in 2013, 2014 is when they went bankrupt and now this sell off.

And as we have said, this trustee has another 180k bitcoins that will probably cause similar crash – that would be 5th or even 6th if he does it in separate batches.

Nevertheless, bitcoin has showed admirable resilience in spite of all the sell offs and this actually indicates that once Mt.Gox saga is over, bitcoin price should skyrocket and reach new highs as many have predicted.


Opinions?

Can I have links from where you have learned those? This topic seems very interesting because now we can know who the whales are. I believe that bitcoin will still skyrocket because their saga will be coming into an end. Plus, two whales cannot simply crash the whole bitcoin market because it has a very strong foundation. These sell offs should be prohibited since it poses as a threat into many users worldwide and it should be considered illegal. I wonder how where they able to exchange that huge amount of bitcoin without experiencing any problems because an exchange like that is very rare and hackers might be able to interrupt.

This news is really truthful, everyone says this.
How can you prohibit a person from selling, then what belongs to him (in this case bitcoins)? The restriction can only be made by the exchange on which he sold the bitcoins.

[Dapper]

The market is the market.   Anyone can buy or sell.   There are no good guys or bad guys, just people trying to make a profit.   It's no different than Zuckerberg, Bezos, or Tim Cooke selling some of their stock on the market.   You wouldn't say they were trying to bring down Facebook, Amazon, or Apple stock.   

[cryptocrusher]

The market is the market.   Anyone can buy or sell.   There are no good guys or bad guys, just people trying to make a profit.   It's no different than Zuckerberg, Bezos, or Tim Cooke selling some of their stock on the market.   You wouldn't say they were trying to bring down Facebook, Amazon, or Apple stock.   

That's because they're their own companies and it's in their best interest not to do so. It makes zero difference to this guy if bitcoin crashes or not. He's earning his millions for facilitating these transactions and has no ties to bitcoin after it whatsoever.

It would've been nice if part of the deal was that he had to be paid his commission in bitcoin at the end of the selling process, then he'd have a bit more incentive to sell in a sensible way.

[GaPR]

And it was this guy – Tokyo whale and Mt.Gox bankrutpcy trustee who sold almost $400 million worth of BTC, some of it at the very bottom on Feb 6th. He crashed the market by 75% by selling the bitcoins in couple of rounds.

3.



The MT Gox trustee has sold half a billion worth of bitcoin and bitcoin cash between December 2017 and February 2018 it was revealed today.

He sold the first batch of 6k bitcoin on December 22nd, sending price from nearly $16,000 to a brief low of $10,800. Then he waited for market to recover and sold another batch of 8k bitcoins on January 17th. Which again produced the same effect – crashed the bitcoin price.

But he is not done yet – he does another sell on January 31st, this time it was around 6k bitcoins. But vast majority of bitcoins was sold on February 6th which implies that he actually tried to crash the market by selling at the bottom.

And guess what – the market absorbed it and jumped back up to $10k.

But what is worrisome is that this same guy has another 180k BTC up his sleeves, that he is looking to sell in the upcoming period and repay the creditors and users who lost their bitcoin in Mt.Gox hack.

This case makes it the fourth time for Mt.Gox to directly or indirectly crash the bitcoin price. First time was hack in 2011, then a DDos in 2013, 2014 is when they went bankrupt and now this sell off.

And as we have said, this trustee has another 180k bitcoins that will probably cause similar crash – that would be 5th or even 6th if he does it in separate batches.

Nevertheless, bitcoin has showed admirable resilience in spite of all the sell offs and this actually indicates that once Mt.Gox saga is over, bitcoin price should skyrocket and reach new highs as many have predicted.


Opinions?

Can I have links from where you have learned those? This topic seems very interesting because now we can know who the whales are. I believe that bitcoin will still skyrocket because their saga will be coming into an end. Plus, two whales cannot simply crash the whole bitcoin market because it has a very strong foundation. These sell offs should be prohibited since it poses as a threat into many users worldwide and it should be considered illegal. I wonder how where they able to exchange that huge amount of bitcoin without experiencing any problems because an exchange like that is very rare and hackers might be able to interrupt.

                   What do you want to prohibit ??  Do not want to sell BTC to anyone?  This is complete nonsense! 

[bit-freedom]

It is a good that this guy sell in batches than selling all bitcoin at once. It is worrying since he sold only 20k BTC and still have 180k on hand. Does this mean we will be seeing more price dips?

[TheQuin]

It is a good that this guy sell in batches than selling all bitcoin at once. It is worrying since he sold only 20k BTC and still have 180k on hand. Does this mean we will be seeing more price dips?

Those numbers are wrong so how do you want to predict price based on them? Have a read of the thread and you might find some more accurate data.

[Dapper]

The market is the market.   Anyone can buy or sell.   There are no good guys or bad guys, just people trying to make a profit.   It's no different than Zuckerberg, Bezos, or Tim Cooke selling some of their stock on the market.   You wouldn't say they were trying to bring down Facebook, Amazon, or Apple stock.   

That's because they're their own companies and it's in their best interest not to do so. It makes zero difference to this guy if bitcoin crashes or not. He's earning his millions for facilitating these transactions and has no ties to bitcoin after it whatsoever.

It would've been nice if part of the deal was that he had to be paid his commission in bitcoin at the end of the selling process, then he'd have a bit more incentive to sell in a sensible way.

Sensible for whom?   It's not a team effort.   The bitcoin market is not some hippy commune.    If the news is accurate anyway, he sold in the most sensible way to himself and his own interests.   That's the free market economy at work.   

[just_Alice]

Opinions?

There's a total of 16.9 millions of Bitcoins in Market Cap. 400$ millions worth of BTC, which was between 7-9k USD in February, that's ~50k Bitcoins, which is only ~0,29% of all Market Cap, how could it cause 75% crash?

[Dapper]

Butterfly effect, ripple effect, spook the herd, etc.   Can happen in any market.