Today the price of bitcoin crashed again $1000 and it is currently valued under $9000,and still falling so can you explain me what is the reasons behind it.I don't think BInance hack rumors is the reason because ceo of binance already told that all funds are safe.Then what causes this price fall?
MtGox trustee is offloading, the dude kobayashi, is now presently a force to reckon with. Let's see how this goes in a short while and I really do not see it affecting the market that much anyway considering the rate at which some have been making it to sound crazy. From what I learned, this dude has been offloading since September last year and since that is the case, there is really nothing to worry about.
market is scared of Kobayashi who will be proven (in time) to be as adept in trading as BOE was (which sold gold for $250).
Well, since Kobayashi in Japanese means 'small forest', then he is a small forest indeed. He can decide to sell it all, we will be happy to go ahead and pick it from him. I wonder why the market is really having issue with that. It is more like a give and take, if a whale feels he is ok with what he is selling, someone else will pick it up from there and that is how it is going to end up playing out. Let's see how his Mt.Goxsells out plays out.