RATE Group | Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: …
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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: …

17 Sep Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: …

Posted at 22:38h in Bitcoin News by

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Mt.Gox, the bankrupt Bitcoin exchange that collapsed in 2014, is soon expected to distribute $1 billion worth of cryptocurrencies to thousands of its creditors. As it has been a long wait, some might offload their bitcoins as soon as they receive them. Can this produce the next leg of the downward move?

When the trade volumes are high, even such a large supply can only result in a knee-jerk reaction, because the buyers lap up the excess supply. However, the picture changes when the volume is low.

If the bulls anticipate a large supply, they might hold off their purchases expecting to buy at lower levels. With a lack of buyers prices plunge, panic selling sets in and the bears keep the markets…

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