Bitcoin Cash's Mt. Gox-Led Sell-Off Is Amplified by Poor Liquidity

Bitcoin Cash’s Mt. Gox-Led Sell-Off Is Amplified by Poor Liquidity


BCH fell 20% last week, its biggest loss in three months, as Mt. Gox announced creditor repayments. Slippage surged across centralized exchanges, signaling poor liquidity as prices fell.

Bitcoin cash (BCH), a cryptocurrency created by a hard fork of the Bitcoin blockchain in 2017, fell 20% last week, its biggest slide since April, according to data on TradingView and CoinDesk.

The sell-off happened as defunct exchange Mt. Gox said it would begin paying back creditors the roughly $9 billion worth of tokens taken in a 2014 hack. That includes $73 million worth of BCH, equating to 20% of the token’s daily trading volume.

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