The Mt. Gox Bitcoin Dump —- the $64M question — why did the Mt Gox Trustee “DUMP” 18,000 BTC —- to hammer the price?
The picture is filling in nicely as to why Bitcoin has been taken a dump since December. Although I would be the first to say “it’s never just one reason for a decline”.....but ....it sure look like the Mt Gox Trustee is playing a leading role.
As we can see in the cascade of Bitcoin “dumps” over the past 3 months....the question is “why”?
We can certainly see what happens to the price of Bitcoin when you “dump massive trades all at one time”....see chart below:
So why would a “trustee”....assuming that he is playing the role of a fiduciary who has responsibility in appropriately caring for the finances of Mt Gox in paying back the creditors.
Anyone with a 6 months of financial common sense knows that if you want to sell 1000’s of Bitcoins that you would sell them in small lots of 100 or 200 at a time and over 3 months the goal could be accomplished.
However, the question becomes “was this the goal”? And if it was the goal — why? And who benefits?
Was this a coordinated and planned hit by the elite and this was the goal and this Trustee “played a role”.
Many people are asking questions. I hope at some point there is clarity.
This move plays no factor in my belief in cryptos and what the long term transition is globally. It does show the larger players are involved in crypto’s —- if you needed any evidence.
The belief is that there is not much dumping left....but who knows. For every seller — there is a buyer.
What interesting times we live in.
For future viewers: price of bitcoin at the moment of posting is 8681.00USD
All of this to me is an opportunity... :-)
They will get sued by the very people they were selling to pay! So shying appears very strange here but it will be looked at in court. Only way it’s not is massive government over reach which would answer our question about this being done on purpose to screw with price!
This is what the elite/cabal ..whatever name you pick....do everyday in the markets. Algos trade the markets in place of humans. Who programs the bots? Where does the money come from to continually bail out the bond market or move at key times? Crypto’s is a tiny market vs the others — and different. This market is physical and there is only so many BTC or LTC. I think they wanted only a delay....they are invested as well.
What are they doing with the money from the dump?
Its’ to pay creditors. Would you not think you want to raise as much as you can —- as opposed to bottom fishing for the lowest price?