Topic: [2018-03-18] Tokyo Whale Stopped Selling; Will Bitcoin Price Increase? - page 2. (Read 272 times)
March 18, 2018, 11:47:07 AM
The Tokyo Whale was one reason why the price declined; he definitely wasn't the only one. The FUD about Bitcoin continues - the latest is about a "death cross" which sees the price dropping as low as $2500. If you look at the price of Bitcoin, it has started grinding down slowly, even after the Tokyo whale stopped selling.
March 18, 2018, 10:24:02 AM
Bitcoin Garden: Will Bitcoin Price Increase Now that the Tokyo Whale has Stopped Selling?
https://bitcoingarden.org/will-bitcoin-price-increase-now-that-the-tokyo-whale-has-stopped-selling/
Between December, 2017 and March, 2018, the price of Bitcoin has fluctuated wildly. During this time, the BTC price went as high as roughly $20,000 and as low as roughly $6,000. There are a number of reasons why Bitcoin prices saw such intense volatility during this time. Some of these reasons include exuberance over the BCOE and the CME launching Bitcoin futures and intense regulatory concerns in many nations around the world such as South Korea.
However, another key contributing factor to the Bitcoin price volatility in the past four to five months is the fact that a Mt. Gox trustee has been selling hundreds of millions of dollars’ worth of Bitcoin into the market in order to recoup funds to pay off creditors.
he Tokyo Whale who has been selling enormous quantities of Bitcoin and Bitcoin Cash on behalf of Mt. Gox is named Nobuaki Kobayashi. Kobayashi has sold a total of 35,841 Bitcoin. At today’s prices (3/14/18), that is worth right around $300 million. Kobayashi acts as both Mt. Gox’s lawyer, and its trustee.
The next bankruptcy hearing for Mt. Gox is not until September of 2018, and it is being predicted that Kobayashi will not sell anymore Bitcoin until after this hearing. This creates a solid five or six-month period in which normal Bitcoin trading volumes will not be heavily influenced by the high-volume sales of the Mt. Gox trustee....
https://bitcoingarden.org/will-bitcoin-price-increase-now-that-the-tokyo-whale-has-stopped-selling/
Between December, 2017 and March, 2018, the price of Bitcoin has fluctuated wildly. During this time, the BTC price went as high as roughly $20,000 and as low as roughly $6,000. There are a number of reasons why Bitcoin prices saw such intense volatility during this time. Some of these reasons include exuberance over the BCOE and the CME launching Bitcoin futures and intense regulatory concerns in many nations around the world such as South Korea.
However, another key contributing factor to the Bitcoin price volatility in the past four to five months is the fact that a Mt. Gox trustee has been selling hundreds of millions of dollars’ worth of Bitcoin into the market in order to recoup funds to pay off creditors.
he Tokyo Whale who has been selling enormous quantities of Bitcoin and Bitcoin Cash on behalf of Mt. Gox is named Nobuaki Kobayashi. Kobayashi has sold a total of 35,841 Bitcoin. At today’s prices (3/14/18), that is worth right around $300 million. Kobayashi acts as both Mt. Gox’s lawyer, and its trustee.
The next bankruptcy hearing for Mt. Gox is not until September of 2018, and it is being predicted that Kobayashi will not sell anymore Bitcoin until after this hearing. This creates a solid five or six-month period in which normal Bitcoin trading volumes will not be heavily influenced by the high-volume sales of the Mt. Gox trustee....
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