The past week for bitcoin ended with a decline of more than 10%. The weakening of Bitcoin began as part of a downward correction on Monday and intensified on Friday, May 11. Market capitalization decreased from $ 452 billion to $ 389 billion.The share of bitcoin increased from 38.8% to 37.1% as of April 2, 2018.
The market collapse was caused by two news: an investigation into the activities of the largest South Korean cryptocurrency exchange Upbit and another sale of Mt.Gox funds.
Trustee of the bankrupt stock exchange Mt. Gox Nobuaki Kobayashi withdrew 8200 BTC from the wallet. The fact of the sale of coins is not important here, just any movement in the wallets of Mt. Gox is perceived by the crypto community as evidence of a transaction to sell BTC on an exchange.
The market collapse was caused by two news: an investigation into the activities of the largest South Korean cryptocurrency exchange Upbit and another sale of Mt.Gox funds.
Trustee of the bankrupt stock exchange Mt. Gox Nobuaki Kobayashi withdrew 8200 BTC from the wallet. The fact of the sale of coins is not important here, just any movement in the wallets of Mt. Gox is perceived by the crypto community as evidence of a transaction to sell BTC on an exchange.