Total FUD. Most the Etherium IPO funds remain intact and what has been sold was not significant enough to move the market in any meaningful way.
The expectation of the coin going to be sold off will cause the price to drop.
The current price always reflect the future event and not current one.
But 26000 BTC is nothing, only 8 days of mining...
8 days worth of the total inflation of a any given currency is an incredibly HUGE sum. Try to extrapolate such a thing to the USD or to any fiat currency of your choice, and add to that the fact that the BTC inflation decreases over time until deflation takes over, which doesn't apply to the USD.
so you are saying that double inflation on 8 days can influence the price downwards for over 10 % for Weeks?
I'm saying that in USD terms (4 trillion "official" monetary base, 2.1% "official" yearly infation rate) the equivalent of 8 days of inflation is almost 2 billions - ask Soros what can you do on Forex to major currencies like the British pound with much less than that, some creativity and a bit of leverage. You can definitely influence the price for weeks if you dump or short, especially if you add margin trading to the equation.
If you consider the fact that BTC's inflation rate is currently 11.11%, and that it will go down to less than 2% only in 2020, you get another idea of how much money 26k coins are in relation to both the final and the current bitcoin monetary base.
You can also see it this way: 26k btc are aprox. 0.2% of the current Bitcoin monetary base (not taking into account lost or destroyed coins). In USD terms that would mean at least 8 billion (probably much more because the real USD monetary base and inflation rate are impossible to verify and thus probably fake).
The fiat value of 26k coins (aprox. 12 million USD) might be nothing in relative terms (because Bitcoin is still extremely small), but it is a huge amount in absolute bitcoin terms - that's all I'm saying, especially when you consider that the total supply is limited (only 13 million now; only 21 million in total) and unalterable.
The bottom line is that 26k coins are a sum that definitely allows you to depress the bitcoin price if that is the goal you wish to achieve - especially during a time in which Bitcoin demand has obviously slowed down.
