FUD ALERT: Mt. Gox selloff MIGHT be coming

Many people associated bitcoin's crash in February with the Mt. Gox selloff. Since then, the remaining bitcoins associated with Mt. Gox have remained in cold storage. The next court date for the Mt. Gox bankruptcy case is scheduled for September 18th, 2018. Most people speculated there wouldn't be another selloff until at least that date.

Today, according to a script monitoring the Mt. Gox bitcoins, there were 16,000 Bitcoin and 16,000 Bitcoin Cash moved out of cold storage. This marks the first movement of these coins since the February selloff. We have no way of knowing if these coins will be sold on an exchange or over the counter (OTC). The last time Bitcoins were moved from this address was on February 5th. The following day, on February 6th, Bitcoin dropped to it's 2018 low of just under $6,000.

Will another massive drop happen? It's possible if these coins are all sold on an exchange. However, it's also possible a buyer is lined up and an OTC sale will occur. If this is the case, it should have no major impact on the price of Bitcoin. As always, time will tell.

If you'd like to follow the script that's monitoring the remaining Mt. Gox Bitcoins, it can be found here: https://www.cryptoground.com/mtgox-cold-wallet-monitor/

If you'd like to monitor the address the 16,000 Bitcoins were transferred to, it can be found here: https://blockchain.info/address/14LuAvrRzAmeikgaafs7H5695xs5dVXqA5

If you'd like to monitor the address the 16,000 Bitcoin Cash were transferred to, it can be found here:
https://explorer.bitcoin.com/bch/address/1K3RsYNFgYA5p2MMzZ4fT6XEYPV7N3NJMD

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