On Tuesday, Bitcoin prices fell to $ 9,000 - only 48 hours later reaching $ 11,000. Analysts have pointed to three major causes behind this downturn of the world's largest electronic currency: the latest disclosure of the sell-off of Mt. Gox, statement of the SEC and the order issued on the Japanese trading floor.
😂 Mt. Gox sells off Bitcoin
According to official documents recently commissioned representatives of Mt. Gox announced that Bitcoin and Bitcoin Cash had been liquidated in the past few months, at a price decided by the trustee, much lower than the real value of the BTC and BCH.
"After consulting the court, I decided that it was necessary and reasonable to liquidate a certain number of BTCs and BCHs at this time to collect the money for the service. I have sold the amount of BTC and BCH mentioned above. I tried to sell at the highest possible price compared to the market value at the time. I would like to ask for more opinions from the court to see if I should continue to liquidate the BTC and BCH not "
In the coming months, the authorized representative will liquidate the remaining assets of Mt. Gox, which is 166.344,35827,254 Bitcoin, worth about $ 1.7 billion at current rates.
The possibility of breaking news on the $ 1 billion sale of Bitcoin has triggered domino effects on many electronic trading platforms, causing Bitcoin prices and other altcoin prices to plummet as a consequence.
Notice of SEC
Earlier this week, the Securities and Exchange Commission (SEC) announced that forex trading platforms that have posted their ICO token on its platform are required to register with the agency to continue. support for the ERC20 token.
Ripple CEO Brad Garlinghouse said the market was overreacting to the SEC's statement, saying the exchanges had two very simple options to meet SEC regulations: to stop listing ICO tokens or advance registration of activities.
Garlinghouse also claims that there is no uncertainty stemming from the SEC's notice, as he noted:
In the context of yesterday's SEC statement (s), I hear some in the crypto talk about the current "regulatory uncertainty."
What's uncertain ?!
SEC's statements have been consistent and clear. "Regulatory uncertainty" is just a euphemism for "we wish we could
Following the SEC statement yesterday, I heard some electronic money talks talk about 'lack of clarity in management'. Lack of clear where? The SEC's notice is very clear and consistent. The 'ambiguity in management' is just another way of saying 'we can not ignore the SEC rules.
Andreas Antonopoulos, a well-known expert in the electronic money industry, stressed that the SEC and other regulators tightened their watch on the ICO as seen earlier.
Antonopoulos explains:
"Recent statements by the SEC and FinCEN are well known. I have warned people about potential (technical, financial and legal) risks for so long. "
😂 Punishment of Japanese trading floors
The Japanese authorities have warned the four exchanges and suspended operations on the other two floors because of their poor security and failed to meet AML and KYC requirements. .
Since Japan is still the largest Bitcoin trading market in the world with more than 51% market share, experts believe that the suppression of trading floors is small but still has a big impact on the global market.
Source of reference ccn
Venezuela is not allowed to dig btc anymore. Because the party and the state of Venezuela have just released domestic coin with a guaranteed value of up to 1 barrel of a coin.
Copper coin will become the most powerful multi-level copper in the socialist direction
.Perhaps the release of currency through Crypto currency, somehow confirmed the trend of bitcoin to reduce bitcoin prices.
But I still believe bitcoin will soon reaffirm its position!