The whale that led to Bitcoin’s crash

Some people still think that the crypto market is not that easily manipulated by the biggest players, the so-called ‘whales’, but in reality, it is exactly the contrary. It has been proved before that whales have a huge influence upon the market and upon the fluctuations or pump and dumps.

Nobuaki Kobayashi is the whale from Tokio, a well-know prosecutor has taken the file of Mt. Gox, the exchange that has reached the law protection to companies on the verge of bankruptcy, after mysteriously losing 850,000 BTC.

Last week, Kobayashi has stated that he sold Bitcoin and Bitcoin Cash worth of 400 million dollars from September until now. In the prosecutor’s possession, there are also Bitcoin and Bitcoin Cash worth of 1.9 billion dollars. His intention is to sell the cryptocurrency to return the money to the creditors of the exchange. It is not surprising at all that Kobayashi has adopted a smart strategy and wants to sell the assets at the best possible price. According to Bloomberg, the prosecutor has set a $10.5 thousand price for BTC.

A recent investigation, has led to a company from UK that has tried to launder 650,000 BTC stolen from Mt. Gox.

The massive sale that has been undergoing, has influenced the value of Bitcoin and this has crashed with 10% in the past 3 days. Bitcoin has reached a minimum value for the last 10 days, when Binance has blocked transactions due to some unauthorised purchases.

Also, the depreciation of Bitcoin is owed to the recent rumours about the Binance hackers attack. An exchange representative has declared that the cease in transactions is temporary and they denied the idea of a hacking problem.