🚀 Interpretation: Will the one-year extension of Mt. Gox's repayment period bring a new round of downward pressure on the market?
Mt. Gox's repayment plan has been extended again, this time to the end of October next year. The debt that was supposed to be paid off at the end of this month now has to wait another year.
This decision is indeed a bit unfair to the long-awaited victims. However, from another perspective, this may be good news for the cryptocurrency market.
In July this year, Mt. Gox began to repay the bitcoins involved, which were worth up to $9 billion. So far, they still hold about 44,900 bitcoins, worth about $2.8 billion. This means that they have repaid $6.2 billion in debt.
Think about it, for nearly seven or eight months since March this year, the price of Bitcoin has been fluctuating around $60,000, indicating that the market has digested the $6.2 billion selling pressure from Mt. Gox. If the remaining $2.8 billion in debt continues until the end of October next year, it should not have much impact on the entire crypto market.
However, some media outlets have reported that while Mt. Gox's Bitcoin repayment extension can temporarily alleviate concerns about oversupply in the market, once funds flow again in the future, it may cause prices to fall.
However, different opinions believe that these media's distorted interpretations are intended to cause public panic, making people afraid when they see such news, and thus dare not buy, thus missing the best time to enter the market.
Therefore, as retail investors, it is important for us to have the ability to think independently and not make investment decisions just because of news reports. After all, investment is your own business, and you should make decisions based on your own judgment and analysis.
💬 Finally, don't forget that Buffett said: "I am greedy when others are fearful, and I am fearful when others are greedy." This sentence reflects the thinking mode of reverse investment, and also reminds us to avoid the herd effect in investment decisions.
