Topic: Mt Gox confirms he didn't crash the market, panic sellers did (again) (Read 407 times)
March 20, 2018, 10:50:26 AM
Doesn’t matter now,, it’s a little to late to stop all bad news that spread faster than any clarification by mtgox.. Within a seconds this propaganda made the downfall of bitcoin market price because all of the sudden their is a simultaneous thread creations by dozens of users from newbies to even a higher rank.. Bad news to panic and end up,, Bitcoin Price Crash..
March 20, 2018, 10:44:30 AM
This is another proof that bad news has more effect on Bitcoin's price rather than good news on its price. Even news clarifying fake news seems to have no effect on Bitcoin's price positively. Look at what is happening people are believing on bad news or even fake news which they will start to panic sell or even be the cause of it. I am not complaining but they are the ones burying themselves in a hole. There is really no solution for this one as we cannot control all the people who are participating in the market.
March 20, 2018, 10:39:22 AM
Look what is happening now on the stock exchange. On my stock exchange, the difference between selling price and buying bitcoin is $ 10. I've never seen anything like it. Whales have stopped selling coins. This means that in the next few days the price will go up. I think that they already know that soon will not be a mass sell-off of coins. Preparing for a rise in price.
March 20, 2018, 10:05:56 AM
I believe no one is to blame. But I would still like to see the official sell orders of the trustee, the dates and the amounts. That information should be made public, right?
Plus Bitcoin was already in "bubble territory" at any rate, the price will always go back to the mean sooner or later.
Plus Bitcoin was already in "bubble territory" at any rate, the price will always go back to the mean sooner or later.
Once it's out there in the market I suppose they'll hand down that list.
The question now is at what level that mean is, and gut-feel tells me it's ~$2k-$3k. Any ideas?
March 20, 2018, 09:41:52 AM
Wowee, a whole thread with nothing but Legendaries and Heroes actually talking sense.
Bravo gents, I'd merit you all for the actual reputable discussion, but you guys already live on status mountain.
+1 to OP for attempting to squash FUD.
March 19, 2018, 12:30:19 AM
Apparently, he didn't sell the coins the same day he moved the coins, which is when it was speculated that the big selloffs happened. He only moved them, didn't sell them. The pdf was updated today in the mtgox website:
https://www.mtgox.com/img/pdf/20180317_qa.pdf
If this is true, the it just's another demonstration of the schizophrenic people looking for news to dump their coins. We have a bunch of weak handed panic sellers looking for FUD news to dump. Everytime these guys sell and the coins go in the hands of holders is good news.
https://www.mtgox.com/img/pdf/20180317_qa.pdf
If this is true, the it just's another demonstration of the schizophrenic people looking for news to dump their coins. We have a bunch of weak handed panic sellers looking for FUD news to dump. Everytime these guys sell and the coins go in the hands of holders is good news.
What I see here is people trying to give themselves reasons as to why they are taking their decision and most times a lot of people are only following the trend and not about Mt Gox, the moment they see price nose dived, they start dumping only they come around and blame the whales for their decision in case price is recovering and they are at the losing end.
The earlier we move away from the believe that Mt Gox can potentially crash the market the better because he cannot keep the coins forever, if he chose to do that, then the whole of the exercise is in futility or he discharge those coins in a gradual way either way he will still sell and if we continue to give him that preference then we should all brace up for an impending crash.
March 18, 2018, 01:53:51 PM
Interesting, OP.
So he got OTC then.
We can conclude it was the weak hands who drove the price down.
Now, who will drive it up? There are good news around, but this market is weak.
Fact is that most people want to have their money controlled by banks and governments. They buy bitcoin only for a quick profit. If the profit dont come in just some days, they sell at the first bad news they find. They dont want to hold for years, or to spend their btc to buy stuff. In other words, they dont want to wait.
So he got OTC then.
We can conclude it was the weak hands who drove the price down.
Now, who will drive it up? There are good news around, but this market is weak.
Fact is that most people want to have their money controlled by banks and governments. They buy bitcoin only for a quick profit. If the profit dont come in just some days, they sell at the first bad news they find. They dont want to hold for years, or to spend their btc to buy stuff. In other words, they dont want to wait.
I want to make clear this: Im not sure if they are saying the truth or not, and I have no idea if they went OTC already. It's just what the official statement says, and if we are to believe that the official statement is the truth, then yes, people panic sold only because they read it on a couple websites. What we know for a fact is that the coins moved, what we don't know is if they were sold at these dates or not. It seems people panic sell whenever a big address moves coins, so if satoshi ever MOVES, only MOVES coins, it would be the same, people would panic sell because they would assume he is selling, while if I was satoshi, I would never sell, but I would definitely move the coins elsewhere so people stop controlling my wealth. But at this point im sure he is smart enough to do nothing.
March 18, 2018, 03:04:04 AM
This dump is nothing other than a panic dump. $8k floor didn't hold up which means more panic. It's all psychological people. Once they break out of this loop, the price will recover to $10k.
I agree. but also I think at this point the drop is persisting because the trend has changed from all bull to all bear and with it the strategy of all traders has changed into bear mode. so with everyone expecting more drops and acting on it, the price continues dropping more without that much buy support.
and this will continue until the trend changes to bull mode again.
March 18, 2018, 01:43:42 AM
Apparently, he didn't sell the coins the same day he moved the coins, which is when it was speculated that the big selloffs happened. He only moved them, didn't sell them. The pdf was updated today in the mtgox website:
https://www.mtgox.com/img/pdf/20180317_qa.pdf
If this is true, the it just's another demonstration of the schizophrenic people looking for news to dump their coins. We have a bunch of weak handed panic sellers looking for FUD news to dump. Everytime these guys sell and the coins go in the hands of holders is good news.
https://www.mtgox.com/img/pdf/20180317_qa.pdf
If this is true, the it just's another demonstration of the schizophrenic people looking for news to dump their coins. We have a bunch of weak handed panic sellers looking for FUD news to dump. Everytime these guys sell and the coins go in the hands of holders is good news.
No idea if this is legit or not, but it wouldn't be surprising if it was.
Honestly, you never act on anything regarding bitcoin until you:
- Understand what is actually going on
- Understand whether or not it'll actually effect bitcoin's ability to serve as a currency/asset
- Understand that most likely, people are going to panic dump because of this and it's most likely going to rebound/reverse soon after you sell/buy.
This dump is nothing other than a panic dump. $8k floor didn't hold up which means more panic. It's all psychological people. Once they break out of this loop, the price will recover to $10k.
March 18, 2018, 12:09:55 AM
so my skepticism was not without some merit!
it has always been drama, and bitcoin investors are always looking for drama, or an excuse to start some drama. it can be a completely irrelevant thing too or sometimes with some basis. this drop started with saying some countries like India banned bitcoin (apparently China got old), then followed by Facebook and Google banned bitcoin and eventually the Mt Gox trustee crashed the market. and the funniest part about this last one was that they were saying he started selling back in September (IIRC) and price was about $4000 back then
it has always been drama, and bitcoin investors are always looking for drama, or an excuse to start some drama. it can be a completely irrelevant thing too or sometimes with some basis. this drop started with saying some countries like India banned bitcoin (apparently China got old), then followed by Facebook and Google banned bitcoin and eventually the Mt Gox trustee crashed the market. and the funniest part about this last one was that they were saying he started selling back in September (IIRC) and price was about $4000 back then
March 18, 2018, 12:03:22 AM
I believe no one is to blame. But I would still like to see the official sell orders of the trustee, the dates and the amounts. That information should be made public, right?
Plus Bitcoin was already in "bubble territory" at any rate, the price will always go back to the mean sooner or later.
Plus Bitcoin was already in "bubble territory" at any rate, the price will always go back to the mean sooner or later.
March 17, 2018, 11:54:58 PM
It can't be helped. People are fickle. I wouldn't solely blame panic sellers either. Traders look at opportunities like this to sell, only to buy back once price has recovered. Everyone's speculating, so things like this can't really be helped.
Either way, it doesn't matter in the grand scheme of things. The tech hasn't changed, and hodlers gonna hodl.
Either way, it doesn't matter in the grand scheme of things. The tech hasn't changed, and hodlers gonna hodl.
March 17, 2018, 09:43:27 PM
Interesting, OP.
So he got OTC then.
We can conclude it was the weak hands who drove the price down.
Now, who will drive it up? There are good news around, but this market is weak.
Fact is that most people want to have their money controlled by banks and governments. They buy bitcoin only for a quick profit. If the profit dont come in just some days, they sell at the first bad news they find. They dont want to hold for years, or to spend their btc to buy stuff. In other words, they dont want to wait.
So he got OTC then.
We can conclude it was the weak hands who drove the price down.
Now, who will drive it up? There are good news around, but this market is weak.
Fact is that most people want to have their money controlled by banks and governments. They buy bitcoin only for a quick profit. If the profit dont come in just some days, they sell at the first bad news they find. They dont want to hold for years, or to spend their btc to buy stuff. In other words, they dont want to wait.
March 17, 2018, 06:38:29 PM
A single tweet could destroy all technical analysis, for instance, Trump making a positive tweet about bitcoin, Jeff Bezos making a positive tweet about Bitcoin, or anyone with influence could pump the price and end the bear market, and technical analysts would say that their TA predicted it...
Bitcoin is too new of an asset, people can't properly value it, it's impossible to call the start or end of bull or bear markets.
This is true. Whether it is bad or good news especially when it become trending, people hesitate (to hodl, buy, sell Bitcoin is too new of an asset, people can't properly value it, it's impossible to call the start or end of bull or bear markets.
). News (and source maybe) have a big impact in people's decision (well mostly) regardless if it's true or not, right? That's because reaction/judgement comes first, it's rare that people search/confirm how legit the news was. March 17, 2018, 06:32:47 PM
As what I know, he sold about 40k BTC, and he still has 150k BTC. I fear this..
As indicated in the news linked by the OP, he only moved the coins, not sold them. Why fear it if those coins can bring forth another good opportunity to buy? I think any investor who doesn't have that much bitcoin at the moment should be rejoicing the moment he dumped all those not just because of a bearish trend, but because those coins will be distributed and fear of mt. Gox coins would be gone. 
March 17, 2018, 05:32:53 PM
mtgox Even if he sells btc he will not say that
With regard dump ; It will be at any moment because Circulating Supply 16 924 912 BTC ( 16.9 m btc !!!!!)
some people advertise for false news and in the end the loser is the one who buys expensive
You should not give for something more than its value
With regard dump ; It will be at any moment because Circulating Supply 16 924 912 BTC ( 16.9 m btc !!!!!)
some people advertise for false news and in the end the loser is the one who buys expensive
You should not give for something more than its value
March 17, 2018, 05:06:29 PM
That is what always is happening. Before something bad happen or there is only a fake news of happening something bad, that's panic sellers who crash the market.
That shows how powerful bad news can be to the investors of bitcoin. This might be true because a week ago I remember seeing a thread about the lists of mtgox addresses that add up for 160,000 btc and none of them were moved until now so the report from those crypto news site about the trustee selling 40k are fake but then again the trustee could still sell the coins without having to move them on another address.
Edit: Found it for those who are interested to check the thread.
March 17, 2018, 04:55:02 PM
I still think they should have sold by auction or by OTC. It would be very interesting if large groups of people who follow the idea of HODL could participate. Thus, they would avoid any possibility of a large dump. And in the long run, it would be very beneficial for everyone.
March 17, 2018, 04:50:48 PM
As what I know, he sold about 40k BTC, and he still has 150k BTC. I fear this..
March 17, 2018, 04:34:56 PM
That is what always is happening. Before something bad happen or there is only a fake news of happening something bad, that's panic sellers who crash the market.
March 17, 2018, 04:18:53 PM
No surprise here. Bear markets are just supply overtaking demand. People like to blame news or FUD, but these cycles play out time and time again.
The "Bitcoin Core market?" LOL. I'm assuming that's a not-so-subtle shill for BCH? If you hadn't noticed, when the Bitcoin market crashes, the BCH and altcoin markets crash harder. Be careful what you wish for.
Oh boy, if you thought we'd seen the sell-off.
Once this news hits mainstream media the real sell-off will begin as people realize how fake and fragile Bitcoin Core market really is!
Once this news hits mainstream media the real sell-off will begin as people realize how fake and fragile Bitcoin Core market really is!
The "Bitcoin Core market?" LOL. I'm assuming that's a not-so-subtle shill for BCH? If you hadn't noticed, when the Bitcoin market crashes, the BCH and altcoin markets crash harder. Be careful what you wish for.
March 17, 2018, 02:11:17 PM
A single tweet could destroy all technical analysis, for instance, Trump making a positive tweet about bitcoin, Jeff Bezos making a positive tweet about Bitcoin, or anyone with influence could pump the price and end the bear market, and technical analysts would say that their TA predicted it...
Bitcoin is too new of an asset, people can't properly value it, it's impossible to call the start or end of bull or bear markets.
Bitcoin is too new of an asset, people can't properly value it, it's impossible to call the start or end of bull or bear markets.
Agreed. I don't know how much time this market will need to mature properly, but I think it's safe to say that it has to be done through properly regulating this market, and then mainly the exchanges. At the moment CBOE opened its future markets, they had to halt trading several times because of the fluctuations Bitcoin was experiencing. These market/security measures are what we need, and I seriously expect them to be a must for each exchange within a few years. Bitcoin's free market is a great advantage, but at the same time also its main obstacle. And then we also have the poor liquidity forming an obstacle. It's basically a combination of everything, but we have to deal with it for now. These times are great for traders, but not so great for the newer market participants.
March 17, 2018, 02:10:12 PM
Gotta view this as a silver lining moment and I almost had a feeling that day that the trustee wouldn't market sell like that. Also had a weird gut feeling that some are looking for any reason to jump ship and they got it. Well good for them and good for us, now we have some stronger hands holding 
.
. March 17, 2018, 02:03:00 PM
Oh boy, if you thought we'd seen the sell-off.
Once this news hits mainstream media the real sell-off will begin as people realize how fake and fragile Bitcoin Core market really is!
Once this news hits mainstream media the real sell-off will begin as people realize how fake and fragile Bitcoin Core market really is!
March 17, 2018, 01:41:04 PM
It doesn't really matter anymore. The price was bound to go down anyway, so whether it's the speculation about MtGox dumps, or just the lower overall demand, it's the same in the end. If one thing became clear over the last months, the ranges have only gone lower and lower. People for now need to adjust their expectations to significantly lower levels, because the support of the last weeks wasn't able to maintain $11,000/$10,000/$9000, and perhaps not even the $8000 level. The less you expect from the short term market, the less disappointment you'll face. In other words, don't even dare to speculate about $50,000 this year.
A single tweet could destroy all technical analysis, for instance, Trump making a positive tweet about bitcoin, Jeff Bezos making a positive tweet about Bitcoin, or anyone with influence could pump the price and end the bear market, and technical analysts would say that their TA predicted it...
Bitcoin is too new of an asset, people can't properly value it, it's impossible to call the start or end of bull or bear markets.
March 17, 2018, 01:27:02 PM
It doesn't really matter anymore. The price was bound to go down anyway, so whether it's the speculation about MtGox dumps, or just the lower overall demand, it's the same in the end. If one thing became clear over the last months, the ranges have only gone lower and lower. People for now need to adjust their expectations to significantly lower levels, because the support of the last weeks wasn't able to maintain $11,000/$10,000/$9000, and perhaps not even the $8000 level. The less you expect from the short term market, the less disappointment you'll face. In other words, don't even dare to speculate about $50,000 this year.
March 17, 2018, 01:11:06 PM
Yeah I reckon some MtGox coins started to move and everyone who knew about it rushed to dump their coins resulting in the crash.
It was going to crash anyway but this might have brought it forward a bit.
It was going to crash anyway but this might have brought it forward a bit.
March 17, 2018, 12:58:58 PM
People latch on to bad news so much more so than they do positive news so this isn't surprising. It's good news that the coins move to stronger hands but even some of them will be shaken off from events like these or they might not have fiat spare to buy more coins.
March 17, 2018, 11:44:33 AM
Apparently, he didn't sell the coins the same day he moved the coins, which is when it was speculated that the big selloffs happened. He only moved them, didn't sell them. The pdf was updated today in the mtgox website:
https://www.mtgox.com/img/pdf/20180317_qa.pdf
If this is true, the it just's another demonstration of the schizophrenic people looking for news to dump their coins. We have a bunch of weak handed panic sellers looking for FUD news to dump. Everytime these guys sell and the coins go in the hands of holders is good news.
https://www.mtgox.com/img/pdf/20180317_qa.pdf
If this is true, the it just's another demonstration of the schizophrenic people looking for news to dump their coins. We have a bunch of weak handed panic sellers looking for FUD news to dump. Everytime these guys sell and the coins go in the hands of holders is good news.
Jump to: