$YGG Every day there are different things going on. Bitcoin's rise last night was very good. The market was startled by the sudden transfer of money from Mentougou and began to fall sharply. YGG had gradually stabilized at $1 but was still brought down. However, the current price has reached the support of the daily line, which is a very cost-effective position!
Let me give you my personal opinion on the Mentougou incident.
First of all, the ETF of Bitcoin has passed. For major institutions, risks must be considered. Bitcoins in the Mentougou address will still be taken into account. Either the institution is not worried that the Bitcoins in Mentougou can be sold, or they are sure that they can take it. If they are not sure, they will not go into this muddy water.
Secondly, the Mentougou address has been marked by major exchanges. It is basically impossible to cash out from the exchange unless you find a seller through a mixer or OTC. However, the founder of the mixer has been arrested and the mixer has been shut down. Obviously, the mixer line is not very good.
OTC does have some possibilities, but no one would be a fool to buy some bitcoins that cannot be cashed out. However, although it cannot be cashed out, the amount of coins can actually affect market sentiment. So even if you don’t sell, simply transferring between a few wallets can become a tool to control the short-term trend of the market, making it another way to make money.
