According to the analyst of" Alpari " Vladislav Antonov, last week there were several negative events for the crypto market: the investigation of the South Korean cryptocurrency exchange Upbit and the next sale of MT.Gox. They prevented the growth of bitcoin prices up to 10 thousand dollars and will hold the exchange rate of the cryptocurrency this week, he said.
"The Trustee of the bankrupt exchange Mt.Gox Nobuaki Kobayashi withdrew 8.2 thousand BTC from his wallet. It's not about the fact of sale of coins, just any movement in the wallets of Mt.Gox is perceived by kriptosmartfon as proof of the transaction for the sale of BTC on the stock exchange", — he explained.
"On news about Mt.Gox and Upbit positive market sentiment has changed to negative. Neutralize it temporarily can annual conference on cryptocurrency Consensus, which will be held in new York from 14 to 16 may. It is expected that the event will be attended by at least seven thousand guests, of which more than 200 experts in the crypto industry. Consensus is compared with the G8 summit in authority, but in Cryptoworks," he said.
Source ria.ru
Notably, the pullback came during the high-profile “Blockchain Week,” which Wall Street strategy firm Fundstrat had predicted would inject a bullish sentiment in the market.
http://telegra.ph/Newsflash-Bitcoin-Price-Drops-Below-8000-as-Bears-Twist-the-Knife-05-18-2