Cryptoquant Founder Explains Why Mt. Gox’s 47,000 BTC Move Won’t Affect Price

Cryptoquant Founder Explains Why Mt. Gox’s 47,000 BTC Move Won’t Affect Price


Defunct crypto exchange Mt. Gox’s recent Bitcoin transfers have continued to cause concerns for the crypto community, considering the amount of selling pressure they could place on the flagship crypto. However, Cryptoquant’s founder, Ki Young Ju, has helped to ease these concerns, recently explaining why these transactions might not affect the market. 

Why Mt Gox’s 47,000 BTC Move Won’t Affect Bitcoin’s Price

In an X (formerly Twitter) post, Ki Young Ju outlined three possible scenarios for Mt Gox’s Bitcoin transactions to explain why it won’t affect its price. First, he stated that these Bitcoin transactions may have simply been an internal transfer, with the defunct crypto exchange switching wallets for security reasons. 

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Secondly, he mentioned that the transaction might have been an over-the-counter (OTC) deal,

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