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Author Topic: Bitcoin down ( Mt. Gox is dumping )  (Read 704 times)
Lionel
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March 09, 2018, 05:09:27 PM
 #1

https://www.reddit.com/r/CryptoCurrency/comments/82nud3/mt_gox_has_been_dumping_on_us_for_the_last_two/

The reason of the low price we see since December is Mt Gox, which has more than 1 billion $ left to be dumped , and this will take several months to complete and may drop the price even lower.

I think these are the times to buy, in that when this Gox dump ends, the price will go up naturally again, probably to $20k which is the estimated record of the 2018.

The only doubt i have: how low can it go in these months?

In any case, even if i buy some coins now, i intend to HODL until the mid 2019 or 2020, so i will profit even if this is not the lowest price.

But if the price is likely to go under $5k i may prefer to wait so that i get more good coins for cheap Smiley

What is your estimated bottom price of these Gox dump months ?

$7k ?
$5k ?
$2k ?
500$ ?

Let me know
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March 09, 2018, 05:20:30 PM
 #2

https://www.reddit.com/r/CryptoCurrency/comments/82nud3/mt_gox_has_been_dumping_on_us_for_the_last_two/

The reason of the low price we see since December is Mt Gox, which has more than 1 billion $ left to be dumped , and this will take several months to complete and may drop the price even lower.

I think these are the times to buy, in that when this Gox dump ends, the price will go up naturally again, probably to $20k which is the estimated record of the 2018.

The only doubt i have: how low can it go in these months?

In any case, even if i buy some coins now, i intend to HODL until the mid 2019 or 2020, so i will profit even if this is not the lowest price.

But if the price is likely to go under $5k i may prefer to wait so that i get more good coins for cheap Smiley

What is your estimated bottom price of these Gox dump months ?

$7k ?
$5k ?
$2k ?
500$ ?

Let me know
Bro, no one will tell us what's ahead. I personally expected that from the beginning of March the market will stabilize, but we will again be presented with surprises. Let's wait for a better time. It's hard to guess what price the bitcoin will be.

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March 09, 2018, 06:05:13 PM
 #3

i heard this news today when my friend told to me that bitcoin dumping by Mt.gox and i heard they will auction the rest of their bitcoin too in the near future and bottom line for bitcoin price probably will happened at $7k so i think i will wait a little longer if bitcoin really dropped at that price then it's time to buy back
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March 09, 2018, 06:12:04 PM
 #4

Bro, no one will tell us what's ahead. I personally expected that from the beginning of March the market will stabilize, but we will again be presented with surprises. Let's wait for a better time. It's hard to guess what price the bitcoin will be.

But the best move for investors is to immediately identify a good time to invest you can't say that guessing is hard since we investors need to quickly analyze the situation and then make a move.

I am also planning to invest if the price dumps again.

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March 09, 2018, 06:16:44 PM
 #5

We do not know yet if any more coins will be sold on the market. Once investors have been paid back then the rest of the coins will likely be given to Mark Karpeles and he will be free to do with them whatever he pleases. Likelihood is that would be dumping them but he might do that via an auction, it's too early to say what will happen

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March 09, 2018, 06:21:43 PM
 #6

Yeah the Mt. Gox, certainly he is the most hated guy at this very moment and might be curses from all over the world. Lolz. Well im not sure how much holdings he has left with or even im surprised to know that he still holds many more and about to dump it.

I think when the price will drop down Mt Gox wont sell anymore because he will be in loss as well. Or he has got so much power that he might just rebuy at the lower prices and again start the compounding investment. This way he can keep multiplying his wealth and might be responsible for increased prices again.  Cheesy

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March 09, 2018, 06:30:38 PM
 #7

It depends on how low these mt. gox guys are willing to sell their bitcoins until they're done. So we don't know how low will it go because all buyers now want bitcoins price to be lower. But after that it might be the start of bitcoin being bullish. So it's up to you if bitcoin's price is low enough for you then buy now.

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March 09, 2018, 06:32:47 PM
 #8

well hell

That's what happens when coin's only value is speculative.
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March 09, 2018, 06:36:39 PM
 #9

bloody unregulated market will be healthy again - we will see
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March 09, 2018, 06:57:32 PM
 #10

Woha! Hold it man! It better doesn't go down to 500 USD! That would be unrealistic and worth nothing. I mean if that starts moving down like that then people won't believe the crypto currency again ever. Most of the people are loosing money right now. If the prices go even further down then they will loose so much that they will loose hopes too.

Mt. Gox holds most of the pie and I think he is enjoying his days now. I'm sure he was waiting for this day since long and he exploded this time like anything. Good for him.

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March 09, 2018, 08:47:12 PM
 #11

Again, this isn't the first time that an exchange is being allegedly hacked and this won't be that last. Mt Gox was probably just a big example of how a hacked exchange contributes to price dumps even after a long time after it happened.
$7k is the lowest it is going to hit in my opinion and anything lower is a sign that the dump is pretty hard and recovering is going to take a lot of time given that Bitcoin was undergoing hard times.


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March 09, 2018, 08:52:55 PM
 #12

Again, this isn't the first time that an exchange is being allegedly hacked and this won't be that last. Mt Gox was probably just a big example of how a hacked exchange contributes to price dumps even after a long time after it happened.
$7k is the lowest it is going to hit in my opinion and anything lower is a sign that the dump is pretty hard and recovering is going to take a lot of time given that Bitcoin was undergoing hard times.

Though Mt. Gox has been gone for years already and the effect has just been realized when it started dumping. Problem is that they held 200,000 bitcoins which shrank the supply for years and then offloaded a lot of them effectively increasing the supply back up. Then since they sold them pretty quick it resulted to a sharp drop in price. $7,000 will not be the lowest, if they dump a whole lot more it could potentially cause it to crash lower than that. But probably it would recover.
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March 09, 2018, 08:55:12 PM
 #13

I think the OP did not issue any predictions or analysis, everything he said was as planned. If so I will patiently wait for the price to increase again after the dumping by Gox. I do not know the contents in the link on the OP, because I can not access reddit on the browser I use. But I do not want to see the price that has been made in the OP, I just hope the fall of this bitcoin price is not lower than 7k$.
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March 09, 2018, 10:05:36 PM
 #14

Hard to tell, but I'm starting to agree with you. I've heard those rumors as well, and like I said in another post, these dumps seem to random to be news related, or things like that, so it's probably MTgox coins being sold that is driving the price down. I have no idea how far it could drive the price down, but since you are committed to buy, like I am, you could just keep buying in small doses, every time you see a flash crash, like this one we had. So it would be like you were scaling your way down, until the bottom is reached.

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March 09, 2018, 10:21:06 PM
 #15

Am I the only one thinking this way?
MT GOX BTC and BCH were sold over a period of 2 months, 35k and 34k respectively, on a BTC market with a daily volume of 80k BTC these days.
Isn't it such a little share of the market that it cannot explain by itself the huge retracement we saw?
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March 09, 2018, 10:43:48 PM
Merited by LoyceV (1)
 #16

I wrote a bit in depth regarding how the Mt. Gox trustee handled the "dumping" from December through February.
https://steemit.com/bitcoin/@savantpr/the-mt-gox-saga-continues

But here's hoping that individual can either auction off the remaining coins or have an OTC sell take place. A straight market sell will definitely not give you the highest value for BTC and BCH. If anything, it decreases the total potential value one might receive. If not, we certainly have interesting times ahead as Mt. Gox still has a ton of BTC and BCH remaining.

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March 09, 2018, 10:55:22 PM
 #17

Only if there is no sense in the brains of the dumper(s), the market will fall below the previous all time high, but I don't see that become reality. My guess is that they'll let it dump below $10,000, and then have it recover back to $10,000/+$11,000 before starting the dumps again. It's no surprise that the market didn't fall below $8,345, which gives me enough confidence to believe that we're up for another run to +$10,000 levels. It might be that this is how the entire year is going to look like without anything bullish to focus on. I seriously hope a large party contacts them to buy an insane number of coins off-exchange, because that's the only correct way of selling this number of coins.
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March 09, 2018, 11:16:38 PM
 #18

Yeah the Mt. Gox, certainly he is the most hated guy at this very moment and might be curses from all over the world. Lolz. Well im not sure how much holdings he has left with or even im surprised to know that he still holds many more and about to dump it.

I think when the price will drop down Mt Gox wont sell anymore because he will be in loss as well. Or he has got so much power that he might just rebuy at the lower prices and again start the compounding investment. This way he can keep multiplying his wealth and might be responsible for increased prices again.  Cheesy

Would be the most probable prediction on how bitcoin price would be and might he be the manipulator of why the price drop and rise. But in any case he would not sell all his holdings because he will still want profit from it in the future.

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March 09, 2018, 11:19:42 PM
 #19

Yeah the Mt. Gox, certainly he is the most hated guy at this very moment and might be curses from all over the world. Lolz. Well im not sure how much holdings he has left with or even im surprised to know that he still holds many more and about to dump it.

I think when the price will drop down Mt Gox wont sell anymore because he will be in loss as well. Or he has got so much power that he might just rebuy at the lower prices and again start the compounding investment. This way he can keep multiplying his wealth and might be responsible for increased prices again.  Cheesy

Would be the most probable prediction on how bitcoin price would be and might he be the manipulator of why the price drop and rise. But in any case he would not sell all his holdings because he will still want profit from it in the future.

I don't think he is in it for the profit since he does not actually own the bitcoins he is holding. They are just selling them for purposes of liquidating the assets of Mt.Gox and not really trading for profit. This is just to pay off the debts of the company when it declared bankruptcy. Then they will just distribute what they got from the sale. I am guessing they have everything in record and no single penny will go to the guy who is liquidating it.

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March 09, 2018, 11:38:55 PM
 #20

Yeah the Mt. Gox, certainly he is the most hated guy at this very moment and might be curses from all over the world. Lolz. Well im not sure how much holdings he has left with or even im surprised to know that he still holds many more and about to dump it.

I think when the price will drop down Mt Gox wont sell anymore because he will be in loss as well. Or he has got so much power that he might just rebuy at the lower prices and again start the compounding investment. This way he can keep multiplying his wealth and might be responsible for increased prices again.  Cheesy

Would be the most probable prediction on how bitcoin price would be and might he be the manipulator of why the price drop and rise. But in any case he would not sell all his holdings because he will still want profit from it in the future.

I don't think he is in it for the profit since he does not actually own the bitcoins he is holding. They are just selling them for purposes of liquidating the assets of Mt.Gox and not really trading for profit. This is just to pay off the debts of the company when it declared bankruptcy. Then they will just distribute what they got from the sale. I am guessing they have everything in record and no single penny will go to the guy who is liquidating it.

You are correct in that he isn’t in it for the profit, but if this trustee had any ounce of moral decency in him, he would still sell at the highest point possible rather than letting the assets he is accountable for generate a lot less in terms of dollar amount. The trustee team behind Mt. Gox have a decent bit of work to do moving forward.

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