Mt Gox and German cops hit Bitcoin lower, under US$56K

Via The Block:

• Collapsed cryptocurrency exchange Mt Gox moved over 47,000
  BTC -6.22%
  to another wallet late evening on Thursday
• comes ahead of its impending $9 billion worth of bitcoin repayment to creditors, “This significant payout, amounting to US$9 billion, is expected to add substantial selling pressure as the market absorbs the additional supply,”

CoinDesk adds:

• the German Federal Criminal Police Office moved over $75 million to crypto exchanges
• “Among the top reasons for the price drop was the German government moving more than $50 million to crypto exchanges, creating sell speculation in the market”

This article was written by Eamonn Sheridan at www.forexlive.com.