Paper Bitcoin On The Rise: Is This The Reason Behind BTC’s Crash?
Summary
Paper Bitcoin has surged while spot BTC price dropped. Germany sold 10,000 BTC, with 39,800 still in custody. Mt. Gox has only returned 2,700 BTC, with 139,000 left. Analyst Willy Woo attributes Bitcoin's crash to paper BTC, with 140,000 extra printed recently. Spot BTC has shown a flat trajectory while paper BTC inventory has increased. The past month saw a 17% decline in Bitcoin's price to $57,200.
