Mt. Gox Compensation Unlikely to End Bull Market, Analysis Finds

IconCryptoNewsTerminal Staff16 Jul, 2024

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Mt. Gox Compensation Unlikely to End Bull Market, Analysis Finds

According to CryptoQuant CEO Ki Young Ju, the recent transfer of 48,000 BTC to the Mt. Gox exchange wallet is unlikely to end the bull market. Ju notes that the BTC has not yet been sold and that there is still strong demand for spot BTC ETFs. While there may be some adjustments in the market, Ju believes that the bull cycle is not over yet. This analysis is in line with previous research, which has found that Mt. Gox compensation is unlikely to have a significant impact on the price of BTC. A study by the University of Texas found that the compensation is likely to be distributed over a long period of time, which will minimize its impact on the market. The Mt. Gox compensation is a major event for the cryptocurrency community. However, it is important to remember that it is just one factor among many that will affect the price of BTC in the coming months.

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