Bitcoin Drops to $8,300 as Mt. Gox Trustee Sell Off Continues, Market Drops

[BADecker]

Bitcoin Drops to $8,300 as Mt. Gox Trustee Sell Off Continues, Market Drops

The Mt Gox sell off dip is not over yet. Mt Gox still has 166,000 BTC to sell. valued at 1.5 billion. the last dip, which brought us from 19,800 to under 6,000 was caused by FUD and a mere 400 million in BTC sell off. Get ready for a true dip soon!

Mt Gox Dip Still Has 166,000 BTC to Sell ($1.5 Billion)

https://www.youtube.com/watch?v=9ZB7ZID7OaI

[fabioganga]

It could happen but I don't think it will be the catastrophe that main people expect.

Bitcoin has proven time and time again strong resilience and it will recover again. I am positive about it.

[BrewMaster]

Mt. Gox Trustee thing is starting to turn into a boogeyman and it is used to scare off children at night.

yes it might have contributed to the drop a little bit but everyone seems to ignore the facts such as the dates which started months ago, and during the rise. and everyone was happy during the rise that ignored this sell off and continued ignoring it for at least 3 more months  since price was still rising while the sell off was happening. then as soon as the drop started everyone started talking about the sell off and the market drop was assigned to it!!!

[Samk]

yes it will dip i dont think so that it will go below 6000$ this time. and  if will go to 6000$ bounce then will make double bottom. and will surely bounce to aother high.

[alyssa85]

Mt. Gox Trustee thing is starting to turn into a boogeyman and it is used to scare off children at night.

yes it might have contributed to the drop a little bit but everyone seems to ignore the facts such as the dates which started months ago, and during the rise. and everyone was happy during the rise that ignored this sell off and continued ignoring it for at least 3 more months  since price was still rising while the sell off was happening. then as soon as the drop started everyone started talking about the sell off and the market drop was assigned to it!!!

Yup. The MtGox trustee hadn't sold anything since early Feb.

So how can "the MtGox sell off continues" be the headline?

[Lieldoryn]

In fact, someone skillfully manipulates the market. They are trying to blame all the troubles of the Manager but it's not. 166000 bitcoin is less than 1% of the coins. Is the cryptocurrency market so weak? If you believe in the version that the administrator is guilty of everything, it turns out that the sale of assets worth $ 1.5 billion could collapse the cryptocurrency market by $ 200 billion. Then we have to accept that all of cryptocurrency is a bubble.

[VirusTeam]

he probably will still fall, do not even know what to do with his means)

[Anti-Cen]

Bitcoin has proven time and time again strong resilience and it will recover again. I am positive about it.

Forget "Positive Vibrations (Bob Marly)" and lets deal in facts because what the granny in the street will remember
is that fees got as high as $55 per transaction just to send digits across the internet and they can post a real letter
across the world for $1.00 and still have change.

I see no "resilience" in the lightning network banker nodes and if your channel to bank is down then your down too
unless you can afford to keep opening more and paying for them to be settled later on-block.


Please don't argue with me, argue with the white paper because it's all in there https://lightning.network/lightning-network-paper.pdf
or you can see the Lightning network map https://lnmainnet.gaben.win/ and want to call these bank hubs P2P mamma and pop's banking
like people have been lead to believe.

[Harlot]

If I were the Mt. Gox Trustee or whoever has more authority than him I would think about it twice before selling that 116,000BTC at this current price point. Anymore pressure selling at this price will surely make Bitcoin go down to lower than 7800$. Also what we might seeing now is the effects if the massive sell off that happened when Bitcoin was priced at 11,500$. So the next time I will sell my BTC is when it will reach or be near at 11,000$ again to maximize the Fiat currency I will earn.

[BADecker]

If I were the Mt. Gox Trustee or whoever has more authority than him I would think about it twice before selling that 116,000BTC at this current price point. Anymore pressure selling at this price will surely make Bitcoin go down to lower than 7800$. Also what we might seeing now is the effects if the massive sell off that happened when Bitcoin was priced at 11,500$. So the next time I will sell my BTC is when it will reach or be near at 11,000$ again to maximize the Fiat currency I will earn.

But remember. Trustees have a time limit to do their thing. Government dictates the time limit. So the trustee might sell just to get the best price, and still liquidate before the time limit is up. Besides, the low rates that Gox got all their coins at, is still way lower than what the price is today. So any profit is good.

[Ultegra134]

It could happen but I don't think it will be the catastrophe that main people expect.

Bitcoin has proven time and time again strong resilience and it will recover again. I am positive about it.

Indeed,  the historical data (Price charts) have proven that price dumps don't last that long, the price will soon recover and surpass $10.000 in the next few days. Keep in mind that price crashes are a great opportunity for investment and trading.

[stompix]

Is there any evidence that they indeed have sold something during this week?
Or just baseless assumptions?

Mt. Gox Trustee thing is starting to turn into a boogeyman and it is used to scare off children at night.

yes it might have contributed to the drop a little bit but everyone seems to ignore the facts such as the dates which started months ago, and during the rise. and everyone was happy during the rise that ignored this sell off and continued ignoring it for at least 3 more months  since price was still rising while the sell off was happening. then as soon as the drop started everyone started talking about the sell off and the market drop was assigned to it!!!

Nobody gives a damn and tries to find reasons when they find a wallet full of money.
But when they lose their own...it's a different story.
People need a culprit, a boogeyman that is not letting them get rich 

Anyhow, is this Trustee obliged to publish the action he makes and if, after how much time?
Or it was just a lucky leak?

[drawoh14]

This is not bad at all because Mt. Gox Trustee is selling bitcoin at lower price and it is a chance to start investing. It pretty seems like Mt. Gox Trustee is just spreading FUD to take advantage of the weaks

[cynical]

i think this MtGox thing is contributing to the falling values but as said only when the values turn negative.
i cannot wait for all these bitcoin to be sold, it will mean this chapter will have ended and we can all move on to the next FUD issue
so we can all scare the hell out of each other.

[Mometaskers]

This plus the scare from Google brought the price down, it dipped below $8k earlier. Oh well, it's a chance to buy cheaper, I guess. If it still hasn't scared you off.

[todiefor17]

Bitcoin Drops to $8,300 as Mt. Gox Trustee Sell Off Continues, Market Drops

The Mt Gox sell off dip is not over yet. Mt Gox still has 166,000 BTC to sell. valued at 1.5 billion. the last dip, which brought us from 19,800 to under 6,000 was caused by FUD and a mere 400 million in BTC sell off. Get ready for a true dip soon!

Mt Gox Dip Still Has 166,000 BTC to Sell ($1.5 Billion)

https://www.youtube.com/watch?v=9ZB7ZID7OaI

The price of bitcoin will not be less than 6k. And I believe it will jump to 14k this May

[jona]

The hold market is also get red,this could be as a result of google news to stop ICO campaigns,this a battle to bring Bitcoin to zero.