Mt. Gox To Start Repaying Bitcoin In July: $9B In Sell Pressure Coming?
Portfolio Pulse from Murtuza Merchant
Mt. Gox will start repaying Bitcoin and Bitcoin Cash to clients starting in July 2024, potentially creating significant selling pressure on Bitcoin. Bitcoin prices have already dropped following the announcement.
June 24, 2024 | 2:09 pm
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Mt. Gox's announcement to start repaying Bitcoin in July 2024 has already caused Bitcoin prices to drop. The repayments could create significant selling pressure, potentially leading to further price declines.
The announcement of repayments from Mt. Gox has already led to a drop in Bitcoin prices. The potential selling pressure from the release of a large amount of Bitcoin could lead to further declines in the short term.
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IMPORTANCE 90
RELEVANCE 100