Bitbank analyst: Mt.Gox compensation is expected to have little impact on the market, and its impact has been over-digested by the market
Bitbank, a cryptocurrency exchange that supports Mt.Gox's compensation work, said that the change in Mt.Gox's wallet balance is expected to have a relatively small impact on the market, as reported by CoinDesk.Yuya Hasegawa, Bitbank's cryptocurrency market analyst, said, "When Mt.Gox's trustee officially announced that they had started repayment, Bitcoin was fluctuating around $54,000. After the news was announced, the price of Bitcoin rebounded and briefly rose to $58,000 over the weekend."Before Mt.Gox began paying compensation, the market had already digested its impact and subsequently reacted to the (US) employment report released on Friday after Mt.Gox began repayment, "Hasegawa added," This indicates that the market's concerns about Mt.Gox's repayment are beginning to weaken, and their focus is turning back to the Federal Reserve's policy decisions."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin Approaches Six-Figure Price Tag, Expected to Reach $85K High Within the Week
BlackRock transfers a total of 7.261 million USDC to Ondo Finance
MicroStrategy acquires 27,200 BTC for approximately $2.03 billion
Detroit to Accept Cryptocurrency for Tax Payments, but Risks Remain