Today, Mt. Gox's transfer activity caused panic in the market. If you add it up yourself, you will know that a total of 141,658 BTC were transferred to an unknown wallet (this number is not a coincidence, so it is reassuring, why do I say it later) This event occurred before the creditor's repayment deadline (October 31), which made many investors worried.
Combining existing information and past news, I don't think this transfer is worth worrying about. Because the number of bitcoins transferred is consistent with the balance sheet data reported by Mt. Gox in 2019, including 142,000 BTC, 143,000 BCH, and 69 billion yen. This shows that the transfer is likely to be in preparation for the upcoming debt repayment.
Although the market will experience some selling pressure due to this news, I regard any related fear, uncertainty and doubt (FUD) as a reliable accumulation opportunity. Most people who invested in BTC ten years ago were based on their belief in its prospects and curiosity about technology, rather than pure speculation. Over the past decade, the development of BTC and the cryptocurrency world has been obvious to all. For these early investors, it is far more likely to continue holding Bitcoin than to sell it.
In general, although the transfer of Mt. Gox caused market fluctuations, this incident is more like a normal step in the debt repayment arrangement. We should look at this change rationally and regard it as part of the market adjustment rather than a reason for panic.
