Don't listen to those saying it's the best time to buy!

Another crisis is coming, and Bitcoin might take a big hit!

Read this before making your decision

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Many are telling you that it's the best time to buy.

That would have been the case if $9B in BTC wasn't about to be released into the market all at once.

As you probably know, Mt. Gox was a CEX based in Japan, one of the largest at its time (2010-14).

They suffered several hacks that led to their closure and blocked all their clients' funds.

In total, 850,000 $BTC were lost by Mt. Gox.

A few years ago, they found 200,000 $BTC in an old wallet format.

The Japanese court decided to redistribute 140,000 $BTC to the affected clients.

The distribution was initially scheduled for October 2023, then postponed to October 2024, and recently moved up to July 2024.

At the time these clients lost their BTC, BTC was worth between $1 and $500.

Once they are reimbursed, they will have made between 500x and 60,000x.

The refund will be made in BTC, not in fiat, so it is logical to think that most will sell to take their gains.

These Bitcoins have not yet been distributed.

How do I know?

The Mt. Gox addresses are public, so you can track their on-chain activity.

They hold 3 addresses, each containing 47,228 $BTC.

The easiest way to track the evolution of these wallets is to use @ArkhamIntel:

• Go to @ArkhamIntel

• Type "Mt. Gox" in the search bar

• Select the entity

You will find a dashboard allowing you to track the evolution and transactions of all Mt. Gox wallets.

Is it necessarily bearish?

Not necessarily, remember when the $ETH were unlocked (Shanghai) for all stakers last year.

Some had made 10x and 100x, yet the price was not significantly impacted.

As you can see, things are much more complicated than we think. It's hard to say whether this event will be favorable or unfavorable for the market. #ETH_ETFs_Approval_Predictions #VanEck_SOL_ETFS #IntroToCopytrading