- Gox distributes 142,000 BTC and 143,000 BCH to creditors, worth over $9 billion.
- The payment process could begin as early as next month.
- All attention is focused on how the payout will impact the prices of Bitcoin and Bitcoin Cash, especially after the Bitcoin halving.
Mt., once a major player in cryptocurrency exchanges. Gox faced a massive hack and collapsed in 2014. Now, nearly a decade later, the defunct exchange is preparing to distribute a significant amount of digital assets to creditors, including approximately 142,000 Bitcoin (BTC) and 143,000 Bitcoin Cash (BCH), totaling over $9 billion. .
These impending payouts have raised concerns among market observers, with K33 Research highlighting the potential negative impact on the Bitcoin price in a report published on Tuesday.
According to analysts, Mt. The influx of Gox coins into the market could put downward pressure on BTC valuation in the coming weeks.
Potential Impact on Bitcoin (BTC) Price
K33 Research analysts say Mt. The influx of Gox’s digital assets into the market highlighted concerns that it could put downward pressure on the price of Bitcoin in the coming weeks. Although creditors may not liquidate assets immediately, expectations of a payout could raise caution among investors and dampen market sentiment.
Creditors recently received an update on BTC and BCH claims, indicating that payments may begin sooner than first expected. This situation occurs at Mt. Speculation has intensified within the cryptocurrency community, coinciding with the refund deadline set by Gox’s board of directors.
Market observers remain divided over the potential impact of Mt. Gox’s payout on the price of Bitcoin. Some believe creditors may decide to hold on to the funds, while others worry that the sheer volume of digital assets entering the market could lead to a sell-off, resulting in a temporary drop in prices.
Despite the uncertainty surrounding the Mt. Gox payout, the cryptocurrency market continues to show resilience despite external pressures. However, investors are advised to exercise caution and closely monitor developments related to the deployment process to mitigate any negative impact on their portfolios, especially as per the warning from K33 Research analysts.