Topic: Expect The Bear Season. - page 2. (Read 367 times)

Here is the official document so that everyone can see,



https://www.mtgox.com/img/pdf/20220706_announcement_en.pdf

So it's either the recipient has choice of lump sum repayment, cash, bitcoin and or bitcoin cash.

Chances are there will be will availing of the lump sump here, and maybe few on crypto as they have suffered enough of waiting for years. And with that said, cash will be the better options, unless they still want to go to and hold their bitcoin and or bitcoin cash in this bear market.

And there is also an assignment, meaning not all claimants will get everything at the same time (cash or crypto). Going to be a slow process for August up to the end of the year or when all payments have been made.

And thanks to this kind of FUD, members are now well aware as to what will go down to this Mt. Gox repayment program if it has an effect on the market to put it below the last lowest low of $17,500.

Yea yea, let's scare people with gox coins once again.

I can find numerous past articles that tried the same thing. In November of last year which was like 10 months ago the articles were pointing to the distribution starting in a few months.
https://markets.businessinsider.com/news/currencies/mt-gox-bitcoin-settlement-payouts-9-billion-dollars-early-2022-2021-11
Maybe it will happen by the end of the year, maybe not.

AFAIK they will be sending people fiat money not bitcoins so they will sell these, but I doubt they will just dump it all on one exchange. That would be foolish and would mean losses for the people who are supposed to be paid back.

This might not sound well but there is a possibility of bitcoin trading Bellow $17k. I see a massive selloff coming.

Still remember  The MT GOX rehabilitation plan made on October 20th 2021? Oh! Let's recall the past.

On 24th February 2014, MT GOX exchange was hacked. The exchange lost about 850,000 BTC which 750,000 Btc belongs to investors while 100 BTC belongs to mt gox. Before the hack in 2014 there was a massive bull run where btc went from $13 in 2013 to $1182 in 2014 with a 9000% profit. In 2016 MT GOX went bankrupt with a total lost of roughly 2.4 trillion worth of btc. This impacted on the market so much bringing btc down to 36%.

Back to the MT GOX rehabilitation plan. MT Gox promised to compensate the investors who lost their funds during the hack with 137,000 BTC This August 2022.

Note: on July 6th, 2022 we heard on news that an email was sent to the investors that lost their funds during mt gox hack giving them option to specify if they would  to receive in BTC , BCH or USTD.

Now, let's go deeper. With 137,000 BTC worth roughly $2.8 billion or let's say $3 billion in the hands of investors, what do you expect they do with it? I see the number of investors that will selloff to regain  what they lost outweighing the few that will decide to still hold. offcurse the sellof won't happen all at once. Considering the principle of the market, if the number of investors that will sellof outweighs those that will HOLD, what do you think will happen to Bitcoin? I will leave you to answer that.

Well, like they said, you can only predict the market but can't be 100% sure of your prediction. Let's watch and see.