TRUMP(特朗普币)芝麻开门交易所

140000 Mt Gou Bitcoins may enter the market has a bearish sig

Date:2024-07-15 18:49:31 Channel:Trade Read:


The four most famous international exchanges:

Binance INTL
OKX INTL
Gate.io INTL
Huobi INTL
Binance International Line OKX International Line Gate.io International Line Huobi International Line
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.


One week later, the Mt. Gox exchange saga may really be coming to an end. On December 15, 137,891 bitcoins are expected to be distributed to users who lost funds after Mt. Gox closed in 2014.

The Mt. Gox closure is one of the most infamous events in the history of blockchain and cryptocurrency. The Japanese exchange suddenly ceased operations in February 2014, announcing that it had lost 850,000
BTC in a series of hacker attacks.

Bitcoin was only one of a few recognized cryptocurrencies at the time, and about 70% of Bitcoin trading volume came from Mt. Gox.

The incident caused several early Bitcoin investors to lose their Bitcoin holdings. Since then, the crypto community has often repeated the phrase - "Not your keys, not your coins". The slogan advises investors not to store their funds on centralized exchanges.

Concerns about market reaction

The upcoming distribution plan will distribute $2.6 billion worth of recovered Bitcoin to some former Mt. Gox users.
At the time, the price of Bitcoin was only around $700. Mt.Gox stopped all withdrawals in February 2014. Since then, the value of these bitcoins has increased by about 2,600%, which may be a windfall for the recipients of these bitcoins.

Due to the sharp increase in the value of the currency since 2014, many recipients are likely to sell their newly received bitcoins on the open market. If market sentiment suddenly changes due to this distribution, it may create a bearish trend.

"Crypto Twitter" users expressed concerns about the upcoming deadline.

On December 8, blockchain data company CryptoQuant tweeted that the deadline for submitting the Mt.
Gox liquidation compensation plan is December 15, which may be a bearish signal for Bitcoin because a run may occur. CryptoQuant CEO Ki Young
Ju said that setting an alert for Mt.Gox Bitcoin outflows can reduce asset risks.

"The most feared event (for lack of a better word) is the Mt. Gox thing this month, which happened on Dec 15th...

We are just bouncing around at the moment, with no clear signals up or down, and since I don't do swing moves like this, I will be out of the market (just spot) for now - Waro"

A lot of anticipation

Many crypto followers have been monitoring Bitcoin addresses suspected to be controlled by the Mt. Gox custodian, who has come under increasing scrutiny as the Dec 15 deadline approaches.

A subreddit called /r/mtgoxinsolvency discusses the event, and a website has been created specifically to track related transactions.

But so far, the activity on these Bitcoins has been dormant. Regardless, the date for the Mt. Gox settlement plan has been pushed back multiple times before. The Dec 15 date was first confirmed in October of this year.

I'll answer.

2512

Ask

964K+

reading

0

Answer

3H+

Upvote

2H+

Downvote