So by now we may have all heard of the Mount Gox Trustees and how they are selling off massive amounts of bitcoin that they have been holding to pay off creditors.
If you still haven't heard yet here is a link to the article:
https://www.coindesk.com/mt-gox-trustee-sells-400-million-bitcoin-bitcoin-cash/
Now what does that really mean for the price of bitcoin. For the past week we have noticed a very definitive pattern.
There is a dump that occurs daily around the 2-4 pm UTC time that causes the price of bitcoin to go bearish. This is a beautiful pattern to play shorts on and I have been looking to do the same with the bitcoin that I am holding. Now we are not concluding that the Mt Gox trustee is the sole reason for this but we would be able to get more clarity on this if we tracked down the address and checked the times that each transactions were made on that account and compared it with the price action.
Whatever the reason is there seems to be a pattern of clear daily dumps and you can check them out below.
