Is Mt. Gox A Worry For Bitcoin? Crypto Analyst Weighs In
Summary
Mt. Gox has moved 137,890 BTC, worth $9.4 billion, causing concern about potential bearish effects. Analyst James Van Straten believes the market may not be heavily impacted, as the recent selloff by long-term holders was absorbed despite a new all-time high. The Mt. Gox repayments are only a tenth of this selloff, and not all recipients will sell immediately. Thus, Bitcoin's price may not be significantly affected if demand remains strong. As a result of the news, Bitcoin's price has fallen to $67,700 from above $70,000.
