🔸“Mt.Gox Bitcoin Transfers: Fear or Opportunity?”
The repayment process for creditors of the Mt.Gox exchange, which was hacked in 2014, has begun, and hundreds of thousands of BTC have been transferred to wallets. This has caused the market to be shaken by the fear of “are massive sales coming?”
📉 A large amount of BTC has been transferred from Mt.Gox wallets in the last 48 hours. This news is creating significant selling pressure on the market. But how real is this fear?
💬 My Comment
There is usually an excessive reaction in the market to such major news. In reality, the chance of 140,000 BTC being put up for sale all at once is very low, both technically and from a market logic perspective.
Most BTC holders have been waiting for years. Even if there is a perception of “they will sell,” a large portion moves forward with OTC (over-the-counter) transactions and does not create a sharp impact on the market.
👉 Do you think this news will lead to a decline, or will it create a buying opportunity?
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