Published On: Fri, May 11th, 2018

Tokyo Bitcoin Whale Strikes Again: Mt. Gox Bankruptcy Trustee to Blame for Latest Bitcoin Price Drop

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Reports have emerged that the Mt. Gox bankruptcy trustee, Nobuaki Kobayashi is gearing up for another round of bitcoin selling. According to Blockchain.info, 8,200 BTC was moved from the fund’s cold wallet. In response, the price of bitcoin has dropped below $9,000 over fears the coins may be sold on the online exchange market and not on OTC platforms.
Bitcoin Falls Below $9,000 in the Wake of Latest Mt. Gox Selloff
Bitcoin has been on a high over the last three weeks. From having its first consecutive weekly gains, the number one crypto appeared to be on the resurgence. In the last few days, negative comments from Bill Gates, Warren Buffett, and now reports of another substantial Mt. Gox selloff seems to be affecting the bitcoin price. The transfers are reported to have occurred in the early hours of May 10.

Several crypto monitors are accusing the Mt. Gox trustee of dumping the coins on the exchange market. These reports are still unconfirmed, but some commentators say it is a way of shorting the market. According to Cryptoground, the Mt. Gox bankruptcy trust still has a balance of 137, 891 BTC. Cryptoground is a website that monitors the cold wallet of the defunct …

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