Whats gonna happen now that MT GOX has moved $144M WORTH OF COINS

It's Offical! The now-defunct cryptocurrency exchange Mt Gox has surprisingly moved 16,000 bitcoins from its vaults to a secret location. This has sparked concerns of an imminent price crash. Check this out https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-cryptocurrency-price-crash-predicted-mt-gox-exchange-latest-a8324026.html

@Jedida Moved to bitcoin.
Please post in the right section next time.

Such a large movement of cryptocurrency is anticipated to have a significant affect on markets

umm.. seems scary! I will suggest people don't get panicked

@shanzida Agree with you

@shanzida said in Whats gonna happen now that MT GOX has moved $144M WORTH OF COINS:

cryptocurrency is anticipated to have a significant affect on markets

isn't it already affecting?

Mt Gox has previously offloaded around $500 million worth of bitcoin, with each sale usually being reflected by severe drops in cryptocurrency markets.

The sale of such a large amount of bitcoins could have a significant impact on cryptocurrency markets.

Got some important update on this issue
The last time this happened, Mt Gox proceeded to sell the funds at market rate, practically sending the entire market in the red. Some investors have taken to social media to quell fears of an imminent price crash, with some claiming that Mt Gox may have to wait for a court ruling before it is permitted to sell any more of its remaining funds.