Bitlook

Full Details↓

MT GOX DUMP FUD 🚨 
Mt. Gox will start the repayment of 141,686 BTC this month
 
The market is dumping as people are thinking BTC might hit $45K or even $40K
 
Let's clarify the FUD about the Mt. Gox dump
 
Mt. Gox BTC distribution will happen in 3 phases
 
- Early payment ( July to Oct )
 
- Intermediate payment ( Final creditors )
 
- Final payment ( years later )
 
So, now just talk about the early payment, which will be 71,403 BTC
 
Among them, there are different types of investors
 
- Individual creditors
 
- Credit funds
 
- Exchanges 
 
BTC was trading at $600 when Mt. Gox was hacked, and the holders are already up 100x
 
Given that we're already in a bull market, the selling will be significantly less
 
Let's assume that 50% of the coins will be sold
 
The total selling amount will be 35,700 BTC worth $2.1 billion
 
Right now, the market can handle 6K–10K BTC sell pressure as the ETF inflows are low
 
During high ETF inflows, BTC can easily absorb 15K–25K of daily BTC sell pressure
 
This means that 35,700 BTC won't have as bad an effect on the market as it seems
 
The reason behind the BTC dump is people overestimating the Mt. Gox selling 
 
IMO, $44k-$52k will be the area where BTC will find its support, and only a black swan event ( war, pandemic ) could push BTC below that
 
If you find this helpful, hit like, repost, and bookmark this tweet
$BTC #MtGox

in your opinion which exchange is best for holding crypto?