Bitcoin prices have experienced sharp declines in the last few days. Bitcoin Trend in I Ethereum , Bitcoin Cash and Ripple. Analysts say their recent declines in prices were due to Mt. Gox tied his kayyum to take out 40,000 Bitcoins.
The Tokyo-based cryptographic money exchange Mt. Gox was founded in 2010 and only four years later, it achieved 70 percent of all Bitcoin transactions worldwide. Unfortunately, in 2014, the stock market went bankrupt after playing 850 thousand Bitcoins.
The problem today is that those buyers are still looking for lost money. And Mt. Gox cradle Nobuaki Kobayashi has sold 36,000 Bitcoin and 34,000 Bitcoin Cash in December, January and February totaling $ 400 million. Another problem is that Mt. The Gox custodian still has 166,000 Bitcoins worth $ 1.5 billion.
This is quite striking, but there are some good news: the next Mt. The Gox court is on September 26, 2018. It is suggested that Kobayashi will not be able to sell 166 thousand Bitcoins in his hand before that date. Al-sellers closely monitor this situation and if true it can be considered a good development for the price of Bitcoin.
The details of the operations reported by Kobayashi earlier this week show that mass sales are the driving force behind the decline in Bitcoin prices in December and January. Analysis of the transactions reveals that there is a connection between these sales and Bitcoin’s price movements in December and January.
As noted above, Mt. Six months after the trial against Gox. It is suggested that Kobayashi will not be able to sell another crypto money during this time, but this issue is not certain. Twitter user Japanese investor , claiming that Kobayashi already has the authority to sell, that the tribunal’s execution is irrelevant to the sale. So Kobayashi may not have to wait to sell more crypto money.