Bitcoin Today: Mt.Gox sells again

2018年9月26日

Price
Yesterday's drop reacted on the Bearish Trend Line and now fluctuates around it. The turnaround of the bearish trend at the 6350 level, talks in favor of bullish moods, the price holding above the Bearish Trend Line will also add to the bullish picture. Still, the main factor to consider any bullish predictions is a comeback above 6800. The nearest support line is 6350, and below it, we will have a long-term supportive zone 5750 – 6250.

Today forecast
Trading in the 6250 - 6600 zone.

Latest news

• Google to resume cryptocurrency advertising in October
  The search engine has agreed to allow cryptocurrencies to once more advertise on Google.
  Starting next month, regulated crypto exchanges will be allowed to purchase ads in the US and Japan.
  The ban on advertising crypto came in March during a spate of high-profile initial coin offerings alongside other cryptocurrency activity which caused issues in identifying between fraudulent or legitimate ventures.
  
• Mt.Gox sells again
  Since March, after the last meeting with Mt.Gox creditors, until June, the trustee of the bankrupt exchange, Nobuaki Kobayashi, withdrew Bitcoin and Bitcoin Cash on 25.98 billion yen ($ 230 million) from the platform. Information about this appeared on the company's website on September 25 (Yesterday).
  The site does not specify the exact dates of selling and the mechanism that was used for this. It is known that Kobayashi decided to liquidate the funds after consulting with the court and experts.
  In total for this period, Kobayashi sold 24,658 BTC and 25,331 Bitcoin Cash. After the liquidation, about 70 059 million yen (approximately $ 620 million) remained on the account of the stock exchange.
  Also, the trustee created a trust with the Japanese bank Sumitomo Mitsui to protect the interests of creditors who filed applications under the bankruptcy procedure.
  The value of assets under the management of the trust exceeds 15 billion yen (about $ 133 million). In total, as part of the bankruptcy procedure, investors must receive 17 billion yen ($ 150 million) in a fiat currency.
  Other creditors will receive the money due to them in the cryptocurrency in the process of civil rehabilitation.
  Earlier, the trustee of Mt.Gox sold Bitcoins and Bitcoin Cash on $ 406 million. Then the community accused Kobayashi that he acted irresponsibly against other market participants and dropped the price of bitcoin. Later, lawyers denied the accusation.