Bitcoin's sharp decline to a multi-month low, driven by Mt. Gox's $2.71 billion sell-off, has triggered market volatility and sparked analyst debate on recovery prospects.
Key Insights:
Bitcoin's price plummeted this week, hitting its lowest level since February.
The drop is likely due to a massive $2.71 billion Bitcoin sell-off from Mt. Gox.
This sell-off caused over $600 million in liquidations across the crypto market, with Bitcoin accounting for more than $200 million.
Analysts are divided on the impact of Mt. Gox's Bitcoin sales: some fear further sell-offs, while others anticipate market recovery.
Investors should brace for continued volatility in the crypto market.