Mt.Gox Bitcoin transfer attracts market attention, Bitcoin price fluctuates again?

The Bitcoin market has seen some fluctuations in the past two days, which are related to the Bitcoin transfer action of the Mt.Gox exchange. Yesterday, the price of Bitcoin fell back to around $63,000, which may be due to the fact that Mt.Gox began to transfer its Bitcoin holdings to internal wallets, involving a total amount of up to $2.8 billion.

At the same time, earlier yesterday, Coindesk reported that Mt.Gox's move may lead to new selling pressure on Bitcoin, mainly due to market expectations that the exchange will make repayments.

At the same time, CoinTelegraph also reported that Mt.Gox transferred $9 billion worth of Bitcoin, which is expected to bring a new round of shocks to the market. It is reported that Mt.Gox currently holds about 140,000 Bitcoins, with a total value of about $9 billion.

In yesterday's transaction, Mt.Gox made two major transfers, one of which transferred 44,527 Bitcoins to another cold wallet, and the other transferred more than 96,000 Bitcoins to two unknown addresses. There is widespread speculation that these large-scale Bitcoin transfers may be in preparation for repayment.

Although the news of Mt.Gox has been hyped for more than two years, each mention will cause the market to plummet for a short period of time, but the market tends to recover quickly afterwards. Now, with the possibility that the problems of Mt.Gox may finally be compensated, this should be a positive sign for the market.

Although Bitcoin may still experience a pullback due to the impact of the Mt.Gox incident in the short term, from the one-hour line, Bitcoin fell 4% in four hours after the news of the Mt.Gox transfer came out, but soon rebounded to a higher position.

After the price of Bitcoin hit a bottom of $53,000, there were media reports that the German government shorted Bitcoin, and then the price of Bitcoin market began to rise. So now, with the news that Mt.Gox may sell Bitcoin, will the market see another round of market smashing and come to a lower price point? Wait and see!

From the daily line, this wave of Bitcoin's movement may encounter resistance after hitting the $65,000 support line. If it is supported in this range, Bitcoin may start to rise again. Otherwise, you might go back and test 5 again.The support range is from 57w to 59w. But at present, the market is still relatively strong! #MtGox动态