Analysts: Selling pressure from Mt. Gox bankruptcy redemption could be bearish for BCH
2024-07-04 07:38:59
The head of research at Presto Labs wrote in a note that fears that selling pressure from the Mt. Gox bankruptcy redemption will push the price of BTC down are unfounded, but this could be a bearish scenario for BCH. In addition to the former exchange that will return about $9.50 billion in BTC to customers, Mt. Gox will also return 143,000 BCH, worth about $73 million. Data shows that the daily trading volume of Bitcoin Cash is $308.80 million, and the value of this redemption is about 24% of this figure.
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
