Will BTC Price Crash due to Mt. Gox or Pump due to FTX?
As you are all aware of Mt. Gox which was hacked in 2015 is starting to pay out all the #BTC exchange victims this week which means disaster for bitcoin price as $9 billion of coins will be hitting the market. The big BTC investors might liquidate their BTC inducing selling pressure as this would feel as free money thus crashing the price of bitcoin.
On the other hand, FTX are also starting to induce buying pressure as $11-15 billion worth of BTC will be hitting the crypto market since #FTX have salvaged over $15 billion in funds to repay everyone with interest on top. Since most of FTX crypto traders are investors most of the volume will be redeployed to the market suggesting a bullish run.
Don't panic buy or sell, just wait patiently for the move to unfold and then get in.
