Mt. Gox launched a claims plan in early July: What impact will it have on the crypto market BTC and BCH?
I still agree with the following points: According to the forecast of Alex Thorn, head of research at Galaxy Digital, the number of bitcoins that will eventually flow into the market from Mt. Gox's compensation is expected to be much lower than the expected 140,000, and may only be around 65,000. After the compensation is completed, the selling pressure is expected to be effectively dispersed. In theory, creditors will not sell at the same time in a short period of time, and the market has partially digested the expected selling brought by Mt. Gox. Therefore, the final impact on the market may not be as great as people expected. More importantly, considering the current market stage, rational creditors may prefer to hold assets rather than sell them immediately. In the next one to two weeks, the market may continue to fluctuate sideways or show a week-long downward trend. Therefore, our current strategy is to remain vigilant and prepare for possible shocks. Only when the market breaks a new low again can it be confirmed whether it has entered a downward trend. At the same time, it is worth paying attention to the progress of Ethereum spot ETF, which may bring some upward momentum to the Bitcoin market.
