Cryptocurrency Price Movements Today: Bitcoin, Ether Prices Waver

Bitcoin (BTC) traded supra $56,000 Monday afternoon, sliding amid movements of costs connected nan blockchain by addresses connected to grounded bitcoin speech Mt. Gox.

Disbursements of bitcoin and bitcoin cash to erstwhile customers of nan speech began past week. Some observers judge nan proviso is weighing connected prices, though others opportunity nan long-expected arena is already priced into nan market. Peter Chung, Presto Labs Head of Research, said bitcoin rate is much apt to beryllium affected.

Some investors, meanwhile, worried astir Germany's trading of bitcoin primitively seized by nan German Federal Criminal Police Office from piracy website Movie2k.to. According to Arkham Intelligence, Germany still possesses 26,318 BTC weighted astatine $1.4 billion, but has sent much than half of nan astir 50,000 bitcoin it had seized retired of its Bitcoin address. After steadily sending retired bitcoin starting successful June, nan German authorities besides sent a important magnitude of bitcoin to nan exchanges connected Monday.

Bitcoin was precocious down much than 1% complete nan past 24 hours, according to CoinDesk.

Selling unit from Mt. Gox customers and nan German authorities whitethorn beryllium seen arsenic a buying opportunity, according to integer plus head CoinShares, which said world integer plus finance products saw $441 cardinal of inflows past week.

Ether (ETH) is besides experiencing a imaginable liquidation of a ample holder successful nan shape of Ethereum-based decentralized exertion Golem, which raised much than 800,000 ether successful an initial coin offering successful 2016. According to Arkham Intelligence, Golem has already sent much than $100 cardinal worthy of ether to exchanges complete nan past 30 days, and nan task still has astir $388 cardinal worthy of ether astatine its disposal.

Either precocious traded adjacent $3,000, up little than 1% complete nan past 24 hours.