Published On: Sat, May 12th, 2018

Gox Trustee to Flood Market with Thousands of Bitcoin, BTC Price Drops Below $9K

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Notoriously hacked cryptocurrency exchange Mt. Gox isn’t done with bitcoiners just yet. Just as it appeared the world’s most popular cryptocurrency was ready to strike above the stubborn high nine thousands in price, Nobuaki Kobayashi, Tokyo-based, court appointed trustee of the remaining bitcoin to be distributed among creditors, seems ready to flood another 8,000 coins onto a fragile market struggling to recover.
Also read: Venezuela’s President Launches Crypto Funded Youth Bank, Encourages Mining Farms
Gox Trustee to Flood Market with Over 8,000 Bitcoin
The Tweets were unusually sure over the last three weeks. Luminaries who’ve seen it all wistfully claimed that, should the speculative price of bitcoin core (BTC) break above $10,000 again, and this was all but a foregone conclusion in their view, it would be the last time investors would ever see such a low. And then something happened along the way. The hot hand held by BTC enthusiasts was left cold: the price dropped to the low nine thousands. Then it broke below $9,000. It would finally settle very near $8,000 by press time.
Mt. Gox happened, again.

The exploded exchange from ancient history by crypto standards, 2014, is rearing its head in the form …

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