[2018-03-18] Tokyo Whale Stopped Selling; Will Bitcoin Price Increase?

[S3cco]

Bitcoin Garden: Will Bitcoin Price Increase Now that the Tokyo Whale has Stopped Selling?
https://bitcoingarden.org/will-bitcoin-price-increase-now-that-the-tokyo-whale-has-stopped-selling/

Between December, 2017 and March, 2018, the price of Bitcoin has fluctuated wildly. During this time, the BTC price went as high as roughly $20,000 and as low as roughly $6,000. There are a number of reasons why Bitcoin prices saw such intense volatility during this time. Some of these reasons include exuberance over the BCOE and the CME launching Bitcoin futures and intense regulatory concerns in many nations around the world such as South Korea.

However, another key contributing factor to the Bitcoin price volatility in the past four to five months is the fact that a Mt. Gox trustee has been selling hundreds of millions of dollars’ worth of Bitcoin into the market in order to recoup funds to pay off creditors.

he Tokyo Whale who has been selling enormous quantities of Bitcoin and Bitcoin Cash on behalf of Mt. Gox is named Nobuaki Kobayashi. Kobayashi has sold a total of 35,841 Bitcoin. At today’s prices (3/14/18), that is worth right around $300 million. Kobayashi acts as both Mt. Gox’s lawyer, and its trustee.

The next bankruptcy hearing for Mt. Gox is not until September of 2018, and it is being predicted that Kobayashi will not sell anymore Bitcoin until after this hearing. This creates a solid five or six-month period in which normal Bitcoin trading volumes will not be heavily influenced by the high-volume sales of the Mt. Gox trustee....

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[aso118]

The Tokyo Whale was one reason why the price declined; he definitely wasn't the only one. The FUD about Bitcoin continues - the latest is about a "death cross" which sees the price dropping as low as $2500. If you look at the price of Bitcoin, it has started grinding down slowly, even after the Tokyo whale stopped selling.

[Coffee135]

I do not believe that Kobayashi could not be unaware of the consequences of their actions. I think he sold himself to the whales. It was a coordinated action to derail the market. Exchange coins will be sold. They had no way out. But now even at the auction the price will be lower. Someone will earn very well and I do not believe that the price will go up before all the coins are sold. Whales will be waiting for their prey. Too bad the police won't investigate this case.

[Jating]

I don't think that he can be categorizes as whales, yes, he offload huge amount of bitcoin, but technically its not his. He is just a trustee. Anyway, I agree that he is one contributing factor to the downfall of the price, but its already late when we really learn what the reason why the price keeps falling after we have rode the bulls last December.

He is just too stupid not to understand the consequences before I personally believed that the is aware of his action. Unfortunately, We all have seen the effects of his action, PANIC.

And now we are into deep waters again, price at $75xx, and who knows what's the current price if he didn't do such stupid acts. We may be still at the 5 digits figures by today and bullish sentiments still remains.

[RamonBTC]

It has affected the price heavily that I don’t care anymore about such action be taken afterwards. If he does is best for himself then be it. After all this is a free investment and decisions are made within the company and that’s it. We have no right to even influence such move and for we have a decentralized way of dealing such enormous sold out. Let the whales go selling and let the public go on buying.

[richardsNY]

It might have contributed to a market that was bound to correct significantly anyway, but people shouldn't ignore the lower overall demand, and that was the main reason the price was going down. Currently as I type the price jumped back to over the $8000 level again, which might confirm that the market was oversold, especially so if you look at how long the market has been going down -- it can't and won't continue endlessly like that. This market has various phases it moves in, and when certain indicators come together nicely, I pull the trigger and either open or close positions, and that's what I did today, and I'm happy with it.

I pointed this out in the speculation section yesterday.

My short term prediction is that the bottom of current downward spiral is slightly above the $7000 level, so if we end up reaching any level close to $7000, that for me would be an instant buy. In other words, we'll set a new bottom above the previous bottom, and that indicates growth, regardless of how you look at the market.

I bought back in slightly under $7400 and look forward to a solid increase from this point. My current short term prediction is +$9000 levels before the end of the next week.

[bigNoizboo]

I think we'll still be seeing a movement below $6000 as we still have to account for the signals coming from the G-20. Things don't look very positive as of this time so a short term dip may still be in the offing before price would bounce back to 10k levels by mid April.

[CryptoBry]

We are all hoping that Bitcoin can be returning to the $12,000 level before it slides continuously but then again Bitcoin is known to be acting wildly...we don't what can be next either it will slide further or will gain back what it lost. Things are moving sometimes to unknown reasons beyond comprehension though we can easily ascribed reasons after any movement.

[carlisle1]

We are all hoping that Bitcoin can be returning to the $12,000 level before it slides continuously but then again Bitcoin is known to be acting wildly...we don't what can be next either it will slide further or will gain back what it lost. Things are moving sometimes to unknown reasons beyond comprehension though we can easily ascribed reasons after any movement.

i dont think we can recover to $12,000 this soon,its even harder to take $10,000 ,though after  G20 we grow atleast 7% in just overnight but this not mean we're continuing to move upward,i think we will stable in $9k untill mid of this year,as many issues still throwing to this good coin

[buwaytress]

It might have contributed to a market that was bound to correct significantly anyway, but people shouldn't ignore the lower overall demand, and that was the main reason the price was going down. Currently as I type the price jumped back to over the $8000 level again, which might confirm that the market was oversold, especially so if you look at how long the market has been going down -- it can't and won't continue endlessly like that. This market has various phases it moves in, and when certain indicators come together nicely, I pull the trigger and either open or close positions, and that's what I did today, and I'm happy with it.

I pointed this out in the speculation section yesterday.

My short term prediction is that the bottom of current downward spiral is slightly above the $7000 level, so if we end up reaching any level close to $7000, that for me would be an instant buy. In other words, we'll set a new bottom above the previous bottom, and that indicates growth, regardless of how you look at the market.

I bought back in slightly under $7400 and look forward to a solid increase from this point. My current short term prediction is +$9000 levels before the end of the next week.

Good point in overall lower demand. I recall two weeks back there being quite a lot of enthusiasm in trading channels when buy orders increased for the first time past $10k, amd even picking up pace towards 11k, which seemed to indicate that the appetite for bitcoin had returned. The failed breakout put an end to that and we're back to a market that seems to have had its fill.

Those who support the Mt Gox trustee effect will say that his sells alone have satiated all those demands, but it doesn't make sense that they wouldn't buy back in at current levels.

Fatigue should take hold this month, psychologically, traders will want to strengthen up buying support to clamber out of this hole. Every week below 10k will mount that pressure. I'm also banking on this new week ending above 9k, though I'm actually thinking 10k will be the Sunday target.

[Gotottack]

It should start to increase but we should not expect something big at this point. Of course, there are remnants and we cannot just move forward like as if nothing happened. Another transition will take place, as the price slowly recovers. Nevertheless, we have to keep in mind that there would be possibly panic selling resulting to another price decline. This may then be due to slow inclination of price and the fear of investors to keep holding. I can say this is pretty much a normal occurrence, though.

[Schirer]

This is somewhat old news , as I Recall it has been here already for several times.

Also, i was under impression that Mt Gox finished its sell off before last dip that means that there is no more to sell, finito thus the date of next hearing is irrelevant, or isn it?

[Leyss]

I think we'll still be seeing a movement below $6000 as we still have to account for the signals coming from the G-20. Things don't look very positive as of this time so a short term dip may still be in the offing before price would bounce back to 10k levels by mid April.

Positive signals from the upcoming G20 summit tomorrow are already there and they are quite positive. First, there are no questions on the crypto currency in the agenda of the summit. Secondly, the Financial Stability Board rejected the appeals of some countries to regulate the crypto currency.
As for the issue that the Tokyo Mt. Gox until September will not throw out its 180,000 bitcoins to the market, then even in connection with this opportunity after September, it is unlikely that bitcoin will rise sharply in price. Potential investors will be afraid of possible depreciation after September.

[Snaic]

Since the decision to further collapse the crypto-currency market is simply postponed until September, I think that this will negatively affect the poor growth of bitcoin in price. Investors will not be sure that the price of bitcoin after September will not fall, and therefore they are unlikely to buy it. It is logical to wait until September-October and if bitcoin at this time falls, buy it at a low price. And now they can switch to altcoins or invest in ICO.

[Oasisman]

The Tokyo Whale was one reason why the price declined; he definitely wasn't the only one. The FUD about Bitcoin continues - the latest is about a "death cross" which sees the price dropping as low as $2500. If you look at the price of Bitcoin, it has started grinding down slowly, even after the Tokyo whale stopped selling.

Exactly what I have in mind, there are a lot of reasons for the price to fall and usually our attention was being diverted and limited only to one reason. There are a lot of FUD is going around.
On the other hand I just finish reading about the Death Cross, it seems like it is somehow true. As what the analyst see in the chart pattern.

[chenbo*)]

When people speculate on an asset, FUD's will always abound. It would be very nice if there is a way to filter those chaffs from this forum, but sadly, things don't work that way. As for the recent roller coaster of bitcoin's value, the whale cashing in on his Mt. Gox stash is just a very small part of why bitcoin's value is showing a decline. If you follow the news, the recent moves by social media giants to ban crypto ads (to protect themselves from possible lawsuits), the G20, the press statements from the US and other countries etc have all been instrumental in shaking things up a bit since the highs of December last year. Personally, I believe that it is a good thing should a very sharp drop happen as I do not approve of bitcoin being treated like an asset which resulted to it's value skyrocketing to dizzying highs. Bitcoin will very well serve it's creator/s purpose should it be treated like a currency that is backed by the blockchain. Such use would help us leap beyond the restraints brought about by the current monetary system that's been so thoroughly oppressive scholars can create volumes of encyclopedia about the ills it brings to our society. It's time for us to change our paradigm.

[tenu]

Cryptocurrency doesn’t pose a risk to the global financial system; finance ministers of the world’s largest economies were told over the weekend. Wonderful news! But this news even in combination with the news that Tokyo Whale Stop Selling would not affect on the price growth dramatically. I suppose that we can catch BTC at 6000 )

[churrosndips]

Bitcoin's price would not see any sharp rise just because the Mt. Gox whale decided to stop selling. Bitcoin has been hammered left and right since the start of the year from people trying to weaken the cryptocurrency's value and it is the reason why it is trading at $8k and threatening to dip to $6k this month. A lot of signals should happen at the right moment for prices to go back to $10k levels and I hope that it'll happen next month.

[alani123]

Seriously though, who's that Tokyo whale everyone has been talking about. I don't think there's a credible source to prove anything like that. The selling pressure has been coming from all around and pretending that the price drop could be attributed to a single source is silly in my opinion. I don't know what people trying to spread such misinterpretations of current market sentiments.

[1Referee]

Seriously though, who's that Tokyo whale everyone has been talking about. I don't think there's a credible source to prove anything like that. The selling pressure has been coming from all around and pretending that the price drop could be attributed to a single source is silly in my opinion. I don't know what people trying to spread such misinterpretations of current market sentiments.

You should know by now that the media needs to hype up everything in order to sell its articles. It's no fun reading titles stating that what's actually happening, so they need to spice things up, and they did. It has dropped a bomb that affected people's mindsets, and perhaps even contributed towards a further decline, and that while there might not have been any sales going on after what was known and documented already. In a market heavily depending on hype and speculation, messing with people mentally is enough to get what you need. Just another sign that this market has a long way to go before it becomes even remotely interesting for the major professional parties of this world to allocate a certain percentage of their portfolio to Bitcoin.