You can open a short position in BCH

The compensation of Mentougou is more than 140,000 BTC in total

Valued at $9 billion, the existing ETF holds a total of $14 billion worth of BTC

The Mentougou exchange was stolen in 2014. When to pay compensation is a major unresolved event in the currency circle in the past 10 years. At that time, the cost of holding coins for these people was about 800-1000 USDT. Now it has increased by more than 60 times. Most people will definitely sell the coins

During this period, BTC has fallen for 20 consecutive days. A large part of the reason is that Mentougou will pay compensation before October. We estimated that there would be relevant news in August-September, but we didn’t expect that compensation would start in early July

So be careful of BTC falling below $60,000 when this news broke today

How to pay, how much to pay at a time, and through which exchange, we don’t know yet But what is certain is that compensation will take a long time,

because many people have to go through the KYC process (if they are Chinese, it may be more troublesome)

It is not clear whether this matter will be reversed, and more information needs to be disclosed

What should we do now?

De-leverage the contract, reduce the position, and buy it back if it falls. Keep about 30% of ETH and other coins, and free up other positions to get bullets, and take one step at a time

Information source: BitEagle