🔸“Mt.Gox Bitcoin Transfers: Fear or Opportunity?”
The repayment process for the 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 sell-offs coming?”
📉 A large amount of BTC has been transferred from Mt.Gox wallets in the last 48 hours. This news is creating serious selling pressure on the market. But how real is this fear?
💬 My Comment
In the market, there is usually an exaggerated reaction to such major news. In reality, the likelihood of 140,000 BTC being put up for sale all at once is very low both technically and in terms of market logic.
Most BTC holders have been waiting for years. Although there is a perception that “they will sell,” a large part proceeds through OTC (over-the-counter) transactions and does not create a significant impact on the market.
👉 Do you think this news will lead to a decline, or will it create a buying opportunity?