Will Bitcoin selling pressure last for three months?
Bitcoin has fallen sharply this week, with the lowest price yesterday (5) reaching $53,269. Although it has rebounded to above $56,000, if Mt. Gox's entire compensation cycle may last for three months, it may bring longer selling pressure to Bitcoin.
However, the dynamic zone has also reported that Galaxy Research Director Alex Thorn believes that there are three reasons why Mt. Gox's selling pressure will be less than expected. Is this decline caused by Mt. Gox creditors selling? Or is it caused by market panic? It is still difficult to say, so let us continue to observe.
