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$170 Billion Selloff in Cryptocurrencies Friday as Mt. Gox Payout Looms
At one point on Friday the entire cryptocurrency market shed more than $170 billion in capitalization within 24 hours, CNBC reported (citing data from CoinGecko). "Cryptocurrencies plunged... as investors focused on the payout of nearly $9 billion to users of collapsed bitcoin exchange Mt. Gox." ...
At one point on Friday the entire cryptocurrency market shed more than $170 billion in capitalization within 24 hours, CNBC reported(citing data from CoinGecko). Also pressuring crypto markets, the German government on Thursday sold roughly 3,000 bitcoins — worth approximately $175 million as of today's prices — from a 50,000-bitcoin pile seized in connection with the movie piracy operation Movie2k, according to Arkham Intelligence.... Tom Lee, co-founder and head of research at Fundstrat Global Advisors, told CNBC's "Squawk Box" on Monday that he still sees bitcoin hitting $150,000 despite the "overhang" from Mt.
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