๐ข๐Hey, DeFi & Web 3 fans! Mt. Gox's bankruptcy redemptions are about to shake things up, but not for Bitcoin!๐๐ช
๐ฎPresto Labs' Peter Chung predicts that the $73 million BCH payback to Mt. Gox's former customers (that's 24% of BCH's daily trading volume, folks!) could put a bearish spin on Bitcoin Cash, not Bitcoin.๐ป๐ฐ
๐กChung's logic? The selling pressure for BCH will be 4x larger than for BTC. Plus, he believes that the current group of creditors are diamond-handed BTC bulls who've stuck around.๐๐
๐And here's the kicker: Chung thinks traders will treat the BCH payback "as an airdrop" and sell it immediately.๐ช๐ธ
๐คSo, what's your move? Long BTC perpetuals paired with short BCH perpetuals? Or maybe shorting term futures or borrowing BCH in the spot market?๐๐
๐ฌLet's chat in the comments!๐ And remember, in the world of DeFi, it's always a bull market somewhere!๐๐ #DeFi #Web3 #MtGox #BCH #BTC