🚀🔥 Let's debunk the myth of the impact of Mount Gox on the BTC markets! 📉💥
The founder and CEO of analytics firm CryptoQuant recently told his 355,000 followers that the FUD surrounding Mt. Gox is vastly overstated. According to him, the growth of Bitcoin market capitalization exceeds that of realized capitalization, thus demonstrating robust demand.
Since last year, despite Bitcoin selling $224 billion, prices have increased by 350%.
Ju added that even if the $3 billion of Mt. Gox is sold on Kraken, this only represents 1% of the capitalization increase achieved in this bull cycle, ensuring manageable liquidity.
The distribution of more than a third of the Bitcoins owed to the failing exchange's creditors has already occurred, according to CryptoQuant, with 36% distributed to date.
The wallet linked to Mt. Gox still contains 90,344 BTC, worth approximately $5.87 billion.
Reddit users are reporting crude attack attempts on their Mt. Gox accounts, while BTC remains stable around $65,000 despite recent turmoil.
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