Mt. Gox Redemption Fears ‘Overblown’ Say Traders as $10B BTC H | Crypto Calendar News
Mt. Gox Redemption Fears ‘Overblown’ Say Traders as $10B BTC Holdings Draw Concerns
Crypto traders say selling pressure from Mt. Gox’s newly announced repayments could be much less than market observers fear, easing concerns about an imminent selloff. “The impact on bitcoin's price from Mt. Gox distributing Bitcoin is likely overblown,” Sam Callahan, senior analyst at Swan Bitcoin, said in a Tuesday email to CoinDesk. “Creditors who wanted to sell their bitcoin have now had more than 10 years to do so through selling their bankruptcy claims to more convicted, long-term investors.
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