Bitcoin plummets! Mt.Gox's huge repayment is coming, and the cryptocurrency market is in a storm
On Monday, Bitcoin led the cryptocurrency market down, plummeting 8.1% to $58,528, the biggest drop since April 13. Mt.Gox exchange is about to repay nearly $9 billion in Bitcoin, and the market is worried about a lot of selling pressure. It is predicted that the actual selling pressure may be small because creditors may choose to hold for a long time.
Market storm:
Bitcoin plummets 8.1%
Mt.Gox repays nearly $9 billion
Market is worried about selling pressure
Actual selling pressure may be small
The cryptocurrency market is experiencing a big storm under the impact of factors such as Mt.Gox repayment news and monetary policy uncertainty. Low market volatility and weak trading volume have put pressure on investors. However, analyst Alex Thorne gave an optimistic forecast that most creditors may choose to hold Bitcoin for a long time instead of selling it immediately. How long will this storm last? Wait and see.
