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.