RE: Bitcoin Cash Getting into the Spotlight
I still think the sell off of the MT. Gox trustee of 200,000 bitcoins will have a huge negative influence on the markets until all those bitcoins are sold. That means he will drive the price of bitcoin down for the rest of the year mostly. As soon as he sells a large amount of bitcoin, the price drops. And he keeps on selling huge amounts of bitcoin. He has only disposed of about 25% bitcoin at this stage. This is a disaster of epidermic proportions for the cryptocurrency markets.
My personal belief is that BCH will become irrelevant over time. There are already other altcoins with faster transactions times and much cheaper transaction costs than BCH. BCH had a price spike pre fork up to 15th of May, but I will not invest here. Much better investments available on the markets!
I haven't seen any convincing evidence that the trustee was dumping Gox coins onto the market, and he says they were sold OTC. Of course, OTC sales like siphon away demand that may have bought at market prices otherwise, so they are not entirely without effect.
Yes, the trustee is using 4 exchanges to get rid of the BTC, and got rid of a quarter of the 200,000 bitcoins so far. Which leaves another 150,000 bitcoins that are going to be dumped in the market. As this is a liquidation of the MT. Gox exchange(Japan), this has to be done as fast as possible to resolve the whole liquidation process. This does have a huge effect on the market and prices, as these bitcoins are sold off in huge amounts.