Bitcoin price crash fears raised after Mt Gox transfers 16,000 tokens

The cryptocurrency exchange Mt Gox has moved 16,000 bitcoins out of its wallet to an address that may be associated with an exchange desk. 
 

Selling this many Bitcoins at once, which are currently valued at over £100 million, could prove disastrous for the value of the cryptocurrency. Supply of the currency would be flooded, and in the absence of a comparable rise in demand the price is likely to fall.

 

Mt Gox was formerly one of the world’s biggest cryptocurrency exchanges before the loss of 1 million of its customer’s Bitcoins forced it to close in 2014. 

 

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