Ken Chigbo
Independent Analyst
- Sources say that a link to Mt. Gox is a possibility, but again take with a pinch of salt, as all remains unconfirmed.
- Around $400 million in cryptocurrencies were sold over a period of a few months, by the bankruptcy trustee of the now-defunct Japanese bitcoin exchange Mt Gox.
There are some reports doing the rounds, suggesting an unknown person/entity is current looking for buyers, of a chunky amount of Bitcoin. Sources say that a link to Mt. Gox is a possibility, but again take with a pinch of salt, as all remains unconfirmed.
As a recap, previously it was reported that around $400 million in cryptocurrencies were sold over a period of a few months, this was done by the bankruptcy trustee of the now-defunct Japanese bitcoin exchange Mt Gox.
Mt Gox was launched in 2010 and was one of the earliest cryptocurrency exchanges. The organization became the largest exchange in the world, but unfortunately in 2014 filed for bankruptcy. This being because of them being hacked and $450 million being stolen.
BTC/USD remains unaffected by these unverified source reports, currently respecting a very important ascending trend line. Bitcoin has managed to receive a break from the hard selling encountered recently. Support is currently tracking at $7,590. Resistance to the upside seen at the $8,500 region.
BTC/USD daily chart
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