Opinion: The Mt. Gox compensation event will not end the bullish trend of Bitcoin
ChainCatcher message, CryptoQuant founder Ki Young Ju stated: "Mt.Gox is preparing to distribute Bitcoin to creditors. The large outflow of funds indicates that retail investors have not yet received their funds. When it happens, CryptoQuant will confirm it through on-chain data. Unlike the German government's sale, Mt.Gox creditors are not forced to sell, so this is not purely seller liquidity. Crypto analyst Alex Krüger estimates this could lead to a maximum Bitcoin price drop of 10%, even if an immediate sell-off occurs. I believe this distribution will not end the bullish trend, as these Bitcoins are expected to react to market sentiment just like the existing supply."
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