We were Gox'ed for the 3rd time recently, it now shows.
Which means big players are manipulating the markets, I concede that but for how much longer can they do this?
How long!
3 Gox'ed Bitcoin price falls:
Mt. Gox Bitcoin Exchange in 2011, then, by far the biggest Exchange platform in the world had a 'security breach' causing the price of Bitcoin to drop to 1 cent.
Mt. Gox went bankrupt in 2014 after what is alleged to have been a massive cyber theft of nearly 1000 000 Bitcoin over a period of time, starting in 2011.
This sent the Bitcoin price tumbling 60% +
Some of the Bitcoin was found - about 200 000 Bitcoin.
£) Then, in December 2017 the Gox effect came back when, after a record high of just under $18000, a 'Trustee' of Mt. Gox started selling 1000's of Bitcoin to 'repay creditors' from the Bankruptcy, dumping on to the market at most inopportune times, driving the price down to today's low of $8000 odd and the $6000 low some weeks back.
The Good news is - most of this stockpile has now been sold - the proceeds, some of which will go back into Bitcoin investing by those who are due legal financial reprieve from the collapse.
And, big dumps will not be able to be made to drive the price down more - at least not much.
reference Dear Bix Weir
By
Ptychadina Wealth
I do between 5 and 10 hours a day of investment research.
If you like what I write about and like my promotion and support of investments like cryptocurrencies and metals for the benefit of all of us -
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Steem ptychadina
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