๐จ Market Update ๐: Mt Gox, the infamous crypto exchange from 2014, has begun reimbursing creditors, triggering a notable impact on the market.
๐ผ Background: Mt Gox collapsed after a major hack, leaving thousands owed billions in Bitcoin. Now, reimbursements are underway, affecting both Bitcoin (BTC) and Bitcoin Cash (BCH).
๐ Impact on BCH: Bitcoin Cash, linked to Mt Gox reimbursements, has seen a sharp decline of 3.75% in the last hour and about 7% over 24 hours. Currently trading at $364, down from $395 earlier today.
๐ Connection: BCH didn't exist in 2014; it was born in 2017 as a Bitcoin hard fork. Coins received by Mt Gox BTC creditors include BCH, influencing its current market movement.
Stay informed as the crypto landscape reacts to these developments. Remember, investment decisions should be made with caution and based on thorough research.
