Massive Mt. Gox Bitcoin Shift Unlikely To Disrupt Prices, Says CryptoQuant CEO

Massive Mt. Gox Bitcoin Shift Unlikely To Disrupt Prices, Says CryptoQuant CEO


Recent developments surrounding the repayment of creditors and investors of the defunct Bitcoin (BTC) exchange, Mt. Gox, have sparked concerns about potential effects on Bitcoin’s price. 

As the market retraced over 20% from its three-month high above $70,000, the movement of 47,000 BTC to repay creditors has raised questions about the market’s stability. 

However, industry experts, including CryptoQuant CEO Ki Young Ju and Alex Thorn, head of research at Galaxy Digital, have offered insights into this development, suggesting that the impact on BTC’s price may be less significant than initially feared.

Trending: JD Vance is an atrocious choice as Trump running mate

Internal Transfers, OTC, And Brokerage Services Examined

Ki Young Ju, in an analysis shared on social media, outlined three possible scenarios for the BTC transactions related to creditor repayment.  Firstly, an internal transfer could

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!