Mt. Gox don transfer Bitcoin wey worth over $1 billion to pay creditors back, and e dey cause market to dey fear
Mt. Gox, wey be crypto exchange wey dey Tokyo wey don close down, don continue to dey move Bitcoin wey dey strategic, dem move 11,501.4 BTC wey worth over $1 billion go their wallets. This latest move na the third big move for the month, after dem move am before on March 6 and March 11. This moves na part of Mt. Gox plan to pay back people wey dem owe after dem fall yakata for 2014. Dem don move the Bitcoins go accounts like cold wallets and platforms like Bitstamp, and BitGo dey process some of dem. Even with this moves, Mt. Gox still get about 35,000 Bitcoins wey worth over $3 billion. This big money move don cause market to dey shake, as traders dey fear say e fit affect Bitcoin price. Since before, if big people wey hold Bitcoin move plenty Bitcoin, e dey affect market how e dey go.
Bearish
Di ogbonge transfer of ova $1 billion worth of Bitcoin by Mt. Gox na bearish signal for di market. Big moves of Bitcoin, especially by people wey hold plenty, fit bring big market wahala. Traders go dey careful becos dem dey fear say price fit fall becos plenty money dey market and people dey sell am. Since time, na so e dey be, price go dey go down as market dey adjust to di plenty supply and di shaking wey dis action dey cause.