MtGox trustees dumping coins again?

[Kakmakr]

I do not know if this might be the cause of the sudden drop in the price, but we know the MtGox trustees like to dump coins on the exchanges, when there is a increase in the price.

Can someone check the known Bitcoin addresses for the MtGox coins and see if there was significant movement in those coins? Those idiots could care less about the impact on the price, if they sell those coins on public exchanges.

A lot of people asked them to use OTC platforms, but the trustees still sold coins on exchanges.   

Ps. I have no facts to support my claims, but it has happened before when the price increased and all signs are pointing to coins being dumped on Asian exchanges. 

[1714184057]

1714184057

[mindrust]

They are creating liquidity for the markets, that's good.

There are many people who are willing to enter from these prices and wait for the next bull run. If the Gox trustees sold their coins OTC, buyers on exchanges wouldn't benefit from their coins.

Some people here are willing to hodl at least 2-3 years. I don't think it'll make much of a difference after the halving whether if you bought from $5k or $7k.

[1Referee]

https://bitcoinist.com/mt-gox-coins-wont-move-until-2020-as-payout-delayed-6-months/

I wish these coins would actually get dumped, because that would mean this gox shit is finally over and we can move on, but unfortunately, it's not happening (yet). The short term negative effect it would have as a result is well worth it knowing that we have seen a large holder sold itself out of the market.

The current dumps are just large pockets unloading some of their bags after facing too much resistance above $8000, which makes sense from a short term trader/investor's perspective. It's not manipulation or anything, just the lack of liquidity and longs being squeezed exaggerating the effect of the dump.

[Kemarit]

https://bitcoinist.com/mt-gox-coins-wont-move-until-2020-as-payout-delayed-6-months/

I wish these coins would actually get dumped, because that would mean this gox shit is finally over and we can move on, but unfortunately, it's not happening (yet). The short term negative effect it would have as a result is well worth it knowing that we have seen a large holder sold itself out of the market.

Just what I thought you. Anyways, why are we still haunted by Gox shit? It should be over by now and I don't think they're going to dump their shit at the current market price.

The current dumps are just large pockets unloading some of their bags after facing too much resistance above $8000, which makes sense from a short term trader/investor's perspective. It's not manipulation or anything, just the lack of liquidity and longs being squeezed exaggerating the effect of the dump.

We have seen this before, so I'm not surprised by the sudden dumps in the market. This could be good in the long run as those who have been waiting in line to buy will have the perfect opportunity to enter with the price falls < $7000.

[shamc]

They have already been made aware that when they sell their bitcoins it should be done OTC to prevent the prices from dropping. It is in their best interests to do so

[CryptoBry]

I do not know if this might be the cause of the sudden drop in the price, but we know the MtGox trustees like to dump coins on the exchanges, when there is a increase in the price. Can someone check the known Bitcoin addresses for the MtGox coins and see if there was significant movement in those coins? Those idiots could care less about the impact on the price, if they sell those coins on public exchanges. A lot of people asked them to use OTC platforms, but the trustees still sold coins on exchanges.    Ps. I have no facts to support my claims, but it has happened before when the price increased and all signs are pointing to coins being dumped on Asian exchanges. 

No, I don't think there is a connection between the bitcoin correction right now with anyone from the MtGox people. This is just another normal day in the bitcoin market when someone decided to sell his (assuming that the owner is a guy, of course) hoard to an exchange taking advantage of the $8,000 level bitcoin got into...what is amazing is that he can buy back his bitcoin at the current rate and realized a good profit. Whether this can just be another manipulation, that remains to be seen.

[akamit]

Can someone check the known Bitcoin addresses for the MtGox coins and see if there was significant movement in those coins?

https://www.cryptoground.com/mtgox-cold-wallet-monitor/

Not sure if the site is accurate or not, but if it is accurate then there is no movement, maybe the reason is what 1Referee linked to.

[gentlemand]

The Gox trustee needs, like, a reason to dump.

As it stands their previous dumpage met all of their fiat liabilities. If there's to be future dumpage it'll only be for the requirements of victims who want fiat. That could still be a couple of years away before it's fully settled by the sounds of it.

[Sanitough]

I would be glad if they are the reason of the dump.

With the bitcoin they are holding keeps decreasing, that would make this market stronger as the worries will be reduce over time.
The history proves that even if they dump, the market will still recover, and since the market is bullish now, it wouldn't be hard to recover.

[pooya87]

last time they started to sell their bitcoins price went up about 200% so if they start selling their bitcoins today you should expect price to reach $14000. don't confuse the time the news started telling you about Mt Gox trustees selling bitcoin with the time they actually started selling. the last time sells started in mid 2017 when price was about $6000 and was still rising. by the time price reached the  ATH they have already sold a big sum of coins. then as the drops began the news sites started talking about their sell off! and  as a result everyone thought the drop is because of them so they ignored the fact that $20k was a bubble. just as you ignored the fact that with the recent fast/big rise we needed a small correction like this!

[barota]

everyone dump , mtgox are free for dump his bitcoin

for me , mtgox should dump bitcoin next time better for market
bubble to 2021  better ??

[Adriano2010]

I read what happen with mtgox exchange on past, but can anyone tell me how many coins there are still owned by mtgox? I wish to get all dumped after bitcoin reach 10k$.

[Febo]

MtGox trustees dumping coins again?

How hard is to trace transactions on transparent blockchain as bitcoin?   Google this addresses and follow them and do your own research to get a perfect answer on your questions.

[Whaleagent]

It's actually called consolidation, I'm sure you liked it when it went from 3k to 8k in a few days, no need to call it a dump now. We are far away from the support at $5607 so until then, I wouldn't call it a dump, to me it seems like healthy consolidation for such an unhealthy bullish move. Keep in mind that the majority of the volume right now is from big investors and people who know what they are doing, they will be taking a lot of profit on the way up.

If we reach the same level of FOMO as in 2017, you can expect big dumps to happen but only then.

[Beautifulmadman]

We would have heard about it.
The dump is due to regular whales, as usual.

[hatshepsut93]

Mt. Gox trustee sounds like another myth - not in a sense that it doesn't exist, but in a sense that people try to use it as an explanation for price changes, regardless of any facts. I think it really doesn't matter in the long run, Bitcoin will do its thing and will have big bull and bear runs, and short term trading is so hard with Bitcoin that you can't really factor in anything to make a short term prediction, which is why people always scratch their heads trying to explain the big price movement and end up coming up with some explanations that require entities like whales, manipulators, Mt. Gox trustee, bankers and so on.

[BrewMaster]

I read what happen with mtgox exchange on past, but can anyone tell me how many coins there are still owned by mtgox? I wish to get all dumped after bitcoin reach 10k$.

it should not matter to us. people with large amounts of bitcoin will always exist because bitcoin is still very young and anybody who got in early already has a large sum of money. and big services like Mt Gox from the old days are obviously having lots of coins.
the important thing is that they are not affecting the price specially when they want to get the most amount of money out of their sales (not that there is any sell happening now from Mt Gox)

[wuvdoll]

I think most of this drop came from people realizing the increase in bitcoin slowed down a bit and not like it could go to 80 thousand dollars tomorrow so they realize they might as well put their money into altcoins that might actually go x10 or even if not better than bitcoin. That way people moved their bitcoins to altcoins which meant keep selling their bitcoins for something even if not for fiat which dropped the rate of bitcoin in the end.

You can see altcoins rising at the same moment bitcoin started to drop. I am pretty sure people will realize its not that smart to keep it all on altcoins and move back to bitcoin soon which will get us another bull run and I believe that one will be even bigger than this one and break that previous all time high record fo 20 thousand dollars.

[YuginKadoya]

We can not point fingers on who is doing this, Any exchange can have a sudden drop and Maybe some other thing might happen and doesn't have a report yet, but again we can never we wary about this because I think that the price will surely return to its former glory, but if you would look on to this article maybe someone have made a dump of 5000 BTC and they are accusing it is on Bitstamp.

https://www.chepicap.com/en/news/9769/bitcoin-drop-caused-by-5000-btc-dump-cme-futures-gap-filled-bull-signal-.html

[peter0425]

I thought that the trustee has admitted already that he is doing OTC? So how it's affecting the market wherein we can't see the sell order? So I'm not really sure if this is the cause of another dump we have recently seen. But for me it doesn't matter, we should move forward and don't let the ghost of mt. gox haunts us.