Proof MtGox Dumping Caused Bear Market Alleged

[bdbabiak77]

https://bitcoinist.com/mt-gox-trustee-dump-bitcoin-2018/

Article claims to show proof Mt Gox dumping caused the bear market.

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[Saisher]

Article is very interesting finally we have a valid proof where the dumped is coming, if they are doing this, it's because they already made a round of profit from Bitcoincash and from the profit from the old price, it really harms the market, hopefully, this will get to past.

[mobydick]

Its a big probability. Hopefully in time this nightmare will stop haunting the crypto market.

[Jating]

I didn't click on the link but there are news that they've started dumping Bitcoin at the height of it's bubble so it look like this is a old news already.

And Mr. Kobayashi (Mt. Gox Trustee) said that he won't be dumping on exchanges but will do it OTC, or something to that effect. He even have to watch for the judge order because he can sell them. So I'm not sure if the link has no development or not. But for me, this so called dumping from Mt. Gox is already settled, no need to create FUD.

[yesyes18]

So I'm not sure if the link has no development or not. But for me, this so called dumping from Mt. Gox is already settled, no need to create FUD.

Senior,
Fact is that they're out of news and so these are the things they do creating more and more FUD for God knows what reason. This Mt. Gox issue is dead and gone, i mean an old story. Instead of them to focus on new blockchain development articles, they won't because they'll do only for companies that have paid them huge sums to shill on their behalf

[franky1]

i call B.S

th articles says that they only seen actual coins move in may 2018.. thus. actual coin movements of MAY 2018. were when the price had already CORRECTED down below $10k

in short MTGox did not cause the $20k->$6k correction,
the speculative correction caused the correction. and the MTGox funds just happen to sell right at the tail end of the correction

[mk4]

There is really no way to accurately pinpoint what caused the bear market; as there is simply just so much factors to take into account: market manipulation, fomo/fud, this "mtgox dump", aliens, the bermuda triangle, Bin Laden, etc, you name it!

The fact though is that the crash already happened; so lets stop wasting time trying to know what mostly caused it, as like I said, it's going to be next to impossible to know for sure anyway.

[pooya87]

i don't bother with clicking on this link to see what new bullshit they are weaving. we have already received proof that Mt Gox and their sale had nothing to do with the price drop. and their representative already claimed that they started selling a very long time before the drops even began. in fact they started selling while price was still going up.
so any article that is still making claims otherwise is just bullshitting and forgetting to read the concrete facts that have already came out a long time ago.

[figmentofmyass]

https://bitcoinist.com/mt-gox-trustee-dump-bitcoin-2018/

Article claims to show proof Mt Gox dumping caused the bear market.

this was already well known many months ago. the trustee was liquidating bitcoin and bitcoin cash to cover the trust's outstanding obligations (denominated in JPY). this is exactly what would be expected from a responsible bankruptcy trustee. iirc, his average sale price was much higher than current prices, so creditors can't really complain.

anyway, the trustee's selling obviously absorbed demand that otherwise might have pushed prices higher. but i would never say it caused the bear market. there is an endless number of factors that caused it. you could just as easily attribute it to lack of buyers near the top. if demand was stronger, the market would have blown through kobayashi's supply and kept moving up. instead, we crashed. demand wasn't all that strong, was it?

[Kakmakr]

i don't bother with clicking on this link to see what new bullshit they are weaving. we have already received proof that Mt Gox and their sale had nothing to do with the price drop. and their representative already claimed that they started selling a very long time before the drops even began. in fact they started selling while price was still going up.
so any article that is still making claims otherwise is just bullshitting and forgetting to read the concrete facts that have already came out a long time ago.

Well, I did click the link and it makes sense that these trustees were bullshitting us by telling people that they did not sell coins on exchanges. They regularly sold coins over a long period and this will explain why the price were continuously dropping all the time. They even provided graphs to show what impact it had, when these coins were sold on the exchanges.

I thought it was large investors from the fiat system that was manipulating the price, but it seems as though it was simply stupidity on behalf of MtGox trustees.  

Let's ask them for proof of auctions that was held or OTC trades that was done. 

[ethereumhunter]

I don't mind if he sold his bitcoin, he has his own decision, and we cannot stop him from selling the bitcoin. Maybe he has another important business he wants to start, so he decides to sell the bitcoin. I would sell all of my bitcoin if I were him while the price increase very higher. There is only a one-time chance to sell bitcoin at the highest price, and we will see it soon in a few years later.

That is only the news, and the fact, the bitcoin price now is down too deep, but I am sure bitcoin is stronger than we can think and the price will increase again in the future. I am afraid that the news will make people become panic and they sell their bitcoin because they don't want to see the bitcoin price is down deeper.

[pooya87]

i don't bother with clicking on this link to see what new bullshit they are weaving. we have already received proof that Mt Gox and their sale had nothing to do with the price drop. and their representative already claimed that they started selling a very long time before the drops even began. in fact they started selling while price was still going up.
so any article that is still making claims otherwise is just bullshitting and forgetting to read the concrete facts that have already came out a long time ago.

Well, I did click the link and it makes sense that these trustees were bullshitting us by telling people that they did not sell coins on exchanges. They regularly sold coins over a long period and this will explain why the price were continuously dropping all the time. They even provided graphs to show what impact it had, when these coins were sold on the exchanges.

I thought it was large investors from the fiat system that was manipulating the price, but it seems as though it was simply stupidity on behalf of MtGox trustees. 

Let's ask them for proof of auctions that was held or OTC trades that was done. 

1. they, like many others, started selling before the drop began not after it. so if their sales were the real reason for drops then price should not have been able to rise above $6000 since that is about when they started selling or dumping if you want to call it that.

2. any person with half a brain doesn't dump on the market to crash the value of what he is trying to sell. instead they do whatever they can to get the most amount of money out of their sale which means selling in a way to prevent the crash. so blaming the crash on them is outright stupid. not to mention that usually these types of sale happen OTC not on exchanges which have a lot of headache for withdrawing large sums of money and then your bank would give you a lot of headache on the other end!

3. if we say Mt Gox was the reason for the drop then we are basically saying that $20k was not a bubble, and it didn't need to burst and we also have no explanation for the previous 4 or 5 similar bubbles that bitcoin had in the past 10 years because there was no Mt Gox selling in any of them!

- with all that said, their sales might have put some sell pressure on the market and contributed to the drop and the bear market but it was not the cause and it was not the biggest reason anyways.

[davis196]

The price dump is in the past and we shouldn't analyze and discuss it.For me,the BCH fork caused the btc price dump from 6K to 3,5K USD.The MtGox dumping probably had some influence at the spring/summer of 2018.Anyway,it won't happen again,so the selling pressure over bitcoin will be lower.

[rosezionjohn]

~snip~ there are news that they've started dumping Bitcoin at the height of it's bubble so it look like this is a old news already.

Exactly. I have already heard about this news early last year.

Bear market is expected to come anyway after that 2017 bull run whether or not Mt. Gox trustee dumps or not.

[piebeyb]

The price dump is in the past and we shouldn't analyze and discuss it.For me,the BCH fork caused the btc price dump from 6K to 3,5K USD.The MtGox dumping probably had some influence at the spring/summer of 2018.Anyway,it won't happen again,so the selling pressure over bitcoin will be lower.

what's interesting with BCH fork can be able to make the price of bitcoin down from $ 6k to $ 3k, I think that often I get news out there, there's no connection with BCH about bitcoin prices going down, hey we seem to be discussing mtgox

[coinwizard_]

It was mt gox that started the chain of events, when that amount goes via exchanges rather than otc people will panic sell. They should have just dumped bitcoin cash as market prices only follow btc

[Pursuer]

caused bear market

that is simply bullshit.

all you can say is that Mt Gox selling bitcoin on the market could have intensified the bear market and possibly even pushed the price lower than it could have normally gotten to but you can never say they "caused" it.
a bear market is an inevitable part of any market that will happen regardless of who sells and who doesn't just as a bull market is a part of this market.

[talkbitcoin]

people always look for someone to blame when they lose money, and this case is no different. ever since the bitcoin price started dropping people started blaming others. sometimes these "others" can be imaginary too like "whales" and sometimes they exist but they are not as big or powerful as they make them to be in their heads.

the Mtgox case is one of them. people started blaming them ever since the price started dropping. and that has been exaggerated each time a new article about it is published up to this point which is even blaming the whole bear market on Mtgox!

[aioc]

I don't mind if he sold his bitcoin, he has his own decision, and we cannot stop him from selling the bitcoin. Maybe he has another important business he wants to start, so he decides to sell the bitcoin. I would sell all of my bitcoin if I were him while the price increase very higher. There is only a one-time chance to sell bitcoin at the highest price, and we will see it soon in a few years later.

That is only the news, and the fact, the bitcoin price now is down too deep, but I am sure bitcoin is stronger than we can think and the price will increase again in the future. I am afraid that the news will make people become panic and they sell their bitcoin because they don't want to see the bitcoin price is down deeper.

It's always been a domino effect for people with weak hearts, if they are dumping this figure or number of millions it could double because small fish are going to dump also when they see whales are doing the same we small fish just follow what these whales are going to do.

[muslol67]

Mt. Thousands of people were directly affected by Gox, and more than a million people were indirectly affected. Unfortunately, the same thing can happen again because there is no control mechanism.

[dothebeats]

Not new, this has been talked about since Feb 2018. Many people have pointed out that the dumping dates made by the trustee caused a lot of following dumps which resulted to the ultimate crash of 2018. I don't think we should ponder on this event for too much as no matter how many questions were thrown at the trustee, he simply wouldn't admit what he did (and he can't be prosecuted for that, too). Besides, $17k per se is already unsustainable, so what do other people think about $19k?

[susuberuang]

some time ago I also found some evidence that I got in some media that said assets from MtGox which caused the price of bitcoin to fall and that was included proof of the transaction, it was terrible they made the price of bitcoin shattered like this.

[pixie85]

The good thing in all of this is that we are still mopping the floors from all that old shit. Gox, rich early investors like Roger Ver who sold to pay for mining of his own shitcoin, faketoshi who paid for his coin with his Bitcoins, small exchanges that didn't know what a cold wallet is. In time Bitcoin will mature enough for such things never to happen again.

[Harlot]

I think they really don't care about at what price they sell it anymore, they were instructed to liquidate their cryptocurrencies in order to pay their victims/customers so they have really no time to anticipate selling their holdings on a higher price. I have seen Mt. Gox did this in the past year and their holdings are still big to influence the market so it is really not that avoidable to see drops like this. But once Mt. Gox have no more holdings anymore we can expect that they have no more power in the market.

[DeathAngel]

I’m looking forward to the day where we no longer fear anything MtGox related. It shouldn’t be too long away, surely all those coins should be given back or dumped on the market soon.

[jointherevolution]

Sure Mt Gox contributed. But the crypto market works in circles and it got too big at some point. What will go up must go down, maybe Mt Gox made te bear market last longer, that is my estimation. I hope we will not see the bear market for longer now. Crypto market will go up sooner or later.

[kissme09]

This is the Crypto market, and it is fair. You can be the owner of lots of Bitcoin, and you have full control over it. MtGox sells it for its reasons for liquidating debts with its customers. To fix this, he needs to sell them to get big money to accomplish that. But this opens up opportunities for many others to own Bitcoin at a lower price.

[franky1]

Let's ask them for proof of auctions that was held or OTC trades that was done.  

if i remember rightly people know which addresses hold the coins. its not like the blockchain is encrypted/hidden, so its transparent to see when coins moved. the article only really talked about COINS moving in march 2018, which was months after the correction from $20k.

the reality is the £20k figure was a fluke event itself, and the correction was a correction. thus both the rise up to $20k and the fall down from $20k were not bull and bear.. but at most considered cub and calve(small temporary)..

the real out of place out un expected event was the october 2018 downturn of ASIC hashpower due to selling off old asics but not 1-for-1 swapping for next gen. to keep hashrate up, which then caused the market:mining dynamic to play in to cause the market decline in november which coincided with novembers 2018 futures contracts sell off from a november 2017 contracts

thus 2018 had not rally anything to do with MTGox

[eaLiTy]

Article claims to show proof Mt Gox dumping caused the bear market.

It is a highly probably situation on why the market went down this low after the big rally, they initially assured that they will not be selling the coins in public exchanges instead they assured to auction off the coins or use over the counter rather than putting it in the public, but they are not known to keep their words and now the record shows that they sold billions worth of bitcoin in public exchanges and if you see that much huge sell volume you know what will happen, investors will get scared and everyone starts selling and i hope the MtGox situation wont happen again and they have being the biggest headache in this market for a long time.

[buwaytress]

Yawn, solid yawn. It was already disproved, plus, if the Trustee had truly caused the crash, then everyone would have shorted Bitcoin during subsequent sells. The guy himself already said he'd be doing OTC trades, which anyway is the best way to ensure he had no slippage and would have gotten the best rates (good for the claimants and good for him).

The most recent rumour has him selling millions of Bitcoin and bcash. Not seeing any selloff... in fact such low volumes this past week.

[Kemarit]

Yawn, solid yawn. It was already disproved, plus, if the Trustee had truly caused the crash, then everyone would have shorted Bitcoin during subsequent sells. The guy himself already said he'd be doing OTC trades, which anyway is the best way to ensure he had no slippage and would have gotten the best rates (good for the claimants and good for him).

The most recent rumour has him selling millions of Bitcoin and bcash. Not seeing any selloff... in fact such low volumes this past week.

Exactly, he even admitted that he had been dumping as early as 2017, prior to the peaked of Bitcoin in December so there where documents circulating around since last year that he is doing OTC trades so I don't know what people believing that the trustee or Mt. Gox really started this bear market. This have been disproved many times in the media, so I don't know why suddenly the news restarted to float around, when the selloff was almost done and the Mt. Gox victim have been compensated.

[gabmen]

people always look for someone to blame when they lose money, and this case is no different. ever since the bitcoin price started dropping people started blaming others. sometimes these "others" can be imaginary too like "whales" and sometimes they exist but they are not as big or powerful as they make them to be in their heads.

the Mtgox case is one of them. people started blaming them ever since the price started dropping. and that has been exaggerated each time a new article about it is published up to this point which is even blaming the whole bear market on Mtgox!

Well people probably don't understand how that will work. I doubt that at the state of the market today, the people who received their bitcoin from would start mass selling their btcs that took a long time for them to acquire, to cause a negative effect.

[Slow death]

https://bitcoinist.com/mt-gox-trustee-dump-bitcoin-2018/

Article claims to show proof Mt Gox dumping caused the bear market.

we need to stop looking for things to justify such a big price drop. The price is falling because there is not much demand, and this lack of demand can be due to several reasons, from the lack of clarity of the governments in relation to the regulations on cryptos or simply the lack of interest of the people. are several reasons, but we have to focus on showing the advantages of buying or using bitcoin

The price dump is in the past and we shouldn't analyze and discuss it.For me,the BCH fork caused the btc price dump from 6K to 3,5K USD.

well, that might be possible because the guys who were fighting were guys who own a lot of bitcoins

[suzanne5223]

Yawn, solid yawn. It was already disproved, plus, if the Trustee had truly caused the crash, then everyone would have shorted Bitcoin during subsequent sells. The guy himself already said he'd be doing OTC trades, which anyway is the best way to ensure he had no slippage and would have gotten the best rates (good for the claimants and good for him).

The most recent rumour has him selling millions of Bitcoin and bcash. Not seeing any selloff... in fact such low volumes this past week.

Exactly, he even admitted that he had been dumping as early as 2017, prior to the peaked of Bitcoin in December so there where documents circulating around since last year that he is doing OTC trades so I don't know what people believing that the trustee or Mt. Gox really started this bear market. This have been disproved many times in the media, so I don't know why suddenly the news restarted to float around, when the selloff was almost done and the Mt. Gox victim have been compensated.

You're about the news of Mt. Gox dumping huge amount of BTC from the early 2017 but if you're going to say the fact about the whole scenario Mt. Gox was not the only person behind the 2017 dump in price of the market because Apple Co-Founder also sold all his holding that same year.

[boty]

Yawn, solid yawn. It was already disproved, plus, if the Trustee had truly caused the crash, then everyone would have shorted Bitcoin during subsequent sells. The guy himself already said he'd be doing OTC trades, which anyway is the best way to ensure he had no slippage and would have gotten the best rates (good for the claimants and good for him).

The most recent rumour has him selling millions of Bitcoin and bcash. Not seeing any selloff... in fact such low volumes this past week.

well, it turns out there are also those who think the same as me, these rumors have already existed and that is like information that has been stale.

[samson]

When the coins moved the market started dumping.

The addresses were known and watched by traders.

It's as simple as that. The coins moved, then the market is manipulated along with lots of FUD about MtGox dumping, it wasn't a panic, it was pure calculated manipulation by people monitoring those addresses.

[stompix]

When the coins moved the market started dumping.

The addresses were known and watched by traders.

It's as simple as that. The coins moved, then the market is manipulated along with lots of FUD about MtGox dumping, it wasn't a panic, it was pure calculated manipulation by people monitoring those addresses.

If they did watch those addresses then the entire scenario goes bust:
https://www.cryptoground.com/mtgox-cold-wallet-monitor/

Let's skip the fact that a sell of 24 000 coins over a period of 2 months caused an 85% drop in a market that claims to trade 2 million a day.

The moves happened only in during March-May and unlike any other sells they are accounted for, he is watched by the FSA , he has no reason to lie, especially since he is well paid for this job and the alternative is prison.

The MtGox sell might explain the bearish trend for two months, but ...it's almost a year since then and we're still going down.

we need to stop looking for things to justify such a big price drop.

Never going to happen.
Bitcoin has become a sort of cult where if the price goes down there must be something evil planning in the background.
A pure obsession looking for culprits for anything, a hunt to find something to blame.

[Idrisu]

The dump by the MtGox really affect the cryptocurrencies market because the supplies is too high and demand for bitcoin is low then and the market has understand perform because of that.

[ophyrim]

We have already in a bear market and this big sell maybe triggered the downtrend. But technically the trend also needs correction after such a big bull-run like all markets.

[el kaka22]

There is always a wave affect. You can drop a stone into water and it wouldn't just affect the place you drop the water it also affects the surrounding with circles going bigger and bigger. Hence, when a 24 thousand is sold it affects on a bigger margin than the 24 thousand sold.

It affects what happens before hand, it affects what happens during, it affects what happens afterwards. Of course we can't put all the blame on them but we can at least honestly say that they did had a huge part on this bad bear market. Not the only cause but a huge cause as well, if we listed all the reasons why bitcoin dropped from 20 thousand dollars to under 4 thousand dollars the trustee selling 24 thousand bitcoins would be at least on the top 3 if not the biggest reason. That is why its always important to keep an eye on the whales.