Cryptos price up, Mt Gox's funds movement detected

Posted 27 April, 2018

Bitcoin and other main cryptocurrencies moved up during the Asian trading on Friday. The market has become concerned after recent reports about bankrupt Mt Gox exchange. 
On the Bitfinex, the price for bitcoin rose to $9,219 Friday morning; Ethereum on this platform changed hands at $655 (some 4,9% up d-o-d). Ripple was recorded on the Poloniex at 0.83558. Litecoin tags gained some 3.4% reaching $149,7.

It has been reported lately that 16,000 BTC bound to Mt Gox were transferred from the wallets to other addresses. As a result, investors tweaked out that the price could collapse. For reference, Mt Gox, an exchange from Tokyo was shut down back in 2014 after it had been hacked and lost some 1 million funds of its users.

According to the news media, bitcoins were withdrawn from four wallets in several transactions (2,000 BTC each). Investors believe that the exchange had to wait for the court order and only then take any actions, in particular, sell the remaining funds. They said that it was a large sale and could put strong pressure on the market. 

At the same time, Mt Gox trustee Nobuaki Kobayashi stated that such money movements from cold storage wallets would have no influence on the price. 

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27 April, 2018 17:35

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