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/biz/ - Business & Finance

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8351889 No.8351889 [Reply] [Original]

"Mt. Gox was the reason behind the huge drop in the Bitcoin price that occurred between the months of December 2017 and March 2018, as they were selling off huge chunks of Bitcoin and Bitcoin Cash to pay off the lawsuits.

Mt. Gox still holds approximately $1.5 billion worth Bitcoin and will not be selling them off until they seek permission from the court, the meeting of which is scheduled on 18th September this year. This might lead to Bitcoin staying in the bearish market for a long time as market investors believe it might keep falling till the month of September and only after the Mt. Gox Bitcoin sale will Bitcoin enter the Bull market again."
https://ambcrypto.com/mt-gox-to-sell-again-bitcoin-btc-to-be-in-red-till-september/

>Bearish
>Til' September

Alrighty then.

>> No.8351898 [DELETED] 
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8351898

>>8351889
not necessarily. evacuate here if you have any sense


2 HOURS TILL END OF PRE-SALE
>70% of tokens used on the patform get BURNED
>burger founders
>U.S. certified
>you can buy into using fiat ($)
>aquired the biggest edtech provider in Eastern Europe
>DYOR pajeet

http://acadtoken.com

>> No.8352119

>>8351889
so what you're saying is, this isn't a real bear market, its just the market recovering from a FORCED sell off by a whale that had no choice but to liquidate large quantities, regardless of the downward pressure it caused?

that means bullish until september, and even then there's no guarantee they'll get permission, and even if they do get permission, getting permission to sell something is very different from being mandated to sell something like they were these last dumps

last bottom was just above the 6.2k-5.5k selloffs, this bottom seems to be just above the 7.3k selloffs, next bottom 12.5k? not for a another month or two though. I wouldn't be surprised to see us hit 20k again before september.

>> No.8352161

>>8352119
downtrend was already forming before he sold, jap san just gave us the final push over the ledge

>> No.8352323
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8352323

>>8352161
what do you think smart money that wasn't yet in crypto was doing during december/january?

waiting

now look at all the dips in fall 2017 where people sold expecting to buy in cheaper. they've been waiting too. do you think the market is going give them a second chance?

oh and lets not forget all the people that timed the 19k peaks correctly

mega fucking bear trap right now