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Topic: Will the Mt. Gox coins affect Bitcoin’s price in August? - page 2. (Read 804 times)

hero member
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Honestly people are overreacting to it for sure. In the end we had many bad news on bitcoin before, it happened during 2018 as well, same mt.gox news and it dropped but what happened?

We moved to 68k in 2021 so we shouldn't worry about these, we should be considering these as a normal thing that happens in bitcoin and not an unusual thing. That's my personal opinion of course, but people are making decisions based on news is a wrong thing if you ask me, because fundamental is still strong, a gold covered in dirt is still gold and it will still have the same value, you just have to wait until you wash it before you can sell it but it will be still valuable anyway.

We are currently on the bear market which all negative news regardless of how big or small will really affect on the mind of traders because traders are fearful during bear market. We experience this many times in the past and preaching to traders to hold in every little news is useless because they always do panic sell as reaction to the market movement. The only way to overcome this is to let the market absorb of the sellers and wait for the traders to calm.
legendary
Activity: 3052
Merit: 1188
Honestly people are overreacting to it for sure. In the end we had many bad news on bitcoin before, it happened during 2018 as well, same mt.gox news and it dropped but what happened?

We moved to 68k in 2021 so we shouldn't worry about these, we should be considering these as a normal thing that happens in bitcoin and not an unusual thing. That's my personal opinion of course, but people are making decisions based on news is a wrong thing if you ask me, because fundamental is still strong, a gold covered in dirt is still gold and it will still have the same value, you just have to wait until you wash it before you can sell it but it will be still valuable anyway.
hero member
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When Mt.Gox announced the release of BTC in August, there was a mixed reaction in the market. And I also think the market has fallen further due to this effect. But at current prices experienced people will never think of selling it. In that case the market will not be affected much. It will recover soon.

I agree. It is not clear whether Mt.Gox will release bitcoin this September or not, since their latest announcement does not indicate when they plan to release bitcoin. Since the current price of bitcoins is so low, it is more likely that people will not sell bitcoins if their bitcoins are returned to them. It has been almost 10 years since the crash and people can wait that long, there is no reason for them to rush to sell their bitcoins at low prices, we are in the market, I think I know that too.
legendary
Activity: 3122
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And then we went to $18k and the possibility of another lower lows, but it seems the market has bounce back above $19k but it was not a relief.

Maybe the news really affected us a bit because we remain below the threshold of the whole numbers - $20k. So the best thing now is to observed whether we can touch $19,700 at least this week so the pressure of selling might be taken off at least this weekend.

The news about the release of MT. Gox bitcoin which will start this month will play a huge factor in the next trend of Bitcoin.  I think this news will greatly affect the market because of the possible new volume of BTC to flocks in the sell order of Bitcoin market and might push the price of BTC even lower.  Another thing is the pressure of the next rate hike of FED as stated by Swordsoffreedom.  It looks like Bitcoin will possibly fall under 17k this month.  I hope it won't happen though.

I don't think the mtgox funds are going to start being distributed this month.  They just finalized claims.  More likely we will be given a page to select which payout we want (early or full) and then that process will likely go on for 3-6 months before they start distributing.  Just my opinion, it could be wrong.  I don't think anyone is going to get any funds from mtgox this month though, or next.  We have to decide what payout we want before the trustee can do anything and given that claims took almost 10 years to finalize, I don't see payout types being finalized instantly.

And since we are now in the second week of September, it seems that this news have been forgotten already. And if in fact it did have some effect, we definitely didn't feel it as the loom and doom prediction of $10,000 didn't happen. On the contrary, the price reaches another milestones in $22,000 and up.

So we will see if there is another news about the Mt. Gox coins being being dumped in the market. It might be a slow process or maybe the trustee knows that it will have a bad effect on the price right now, so much better like it will be in the next 3-6 months.
When Mt.Gox announced the release of BTC in August, there was a mixed reaction in the market. And I also think the market has fallen further due to this effect. But at current prices experienced people will never think of selling it. In that case the market will not be affected much. It will recover soon.
Not that much i should say yet there might be some price decrease but it was really just like an ordinary day.How about on the current decrease that we do have now on Bitcoin price as of this moment?

What are the news and sentiments around that we are seeing? None right? It does mean that market could move out without the need of any fundamentals around.This is what make things even more harder
to speculate and presume out on what would be the next movement of Bitcoin.

Now that we are on September it seems out that Mt.Gox talks had been out already or didnt really get that much mention lately.
hero member
Activity: 2128
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And then we went to $18k and the possibility of another lower lows, but it seems the market has bounce back above $19k but it was not a relief.

Maybe the news really affected us a bit because we remain below the threshold of the whole numbers - $20k. So the best thing now is to observed whether we can touch $19,700 at least this week so the pressure of selling might be taken off at least this weekend.

The news about the release of MT. Gox bitcoin which will start this month will play a huge factor in the next trend of Bitcoin.  I think this news will greatly affect the market because of the possible new volume of BTC to flocks in the sell order of Bitcoin market and might push the price of BTC even lower.  Another thing is the pressure of the next rate hike of FED as stated by Swordsoffreedom.  It looks like Bitcoin will possibly fall under 17k this month.  I hope it won't happen though.

I don't think the mtgox funds are going to start being distributed this month.  They just finalized claims.  More likely we will be given a page to select which payout we want (early or full) and then that process will likely go on for 3-6 months before they start distributing.  Just my opinion, it could be wrong.  I don't think anyone is going to get any funds from mtgox this month though, or next.  We have to decide what payout we want before the trustee can do anything and given that claims took almost 10 years to finalize, I don't see payout types being finalized instantly.

And since we are now in the second week of September, it seems that this news have been forgotten already. And if in fact it did have some effect, we definitely didn't feel it as the loom and doom prediction of $10,000 didn't happen. On the contrary, the price reaches another milestones in $22,000 and up.

So we will see if there is another news about the Mt. Gox coins being being dumped in the market. It might be a slow process or maybe the trustee knows that it will have a bad effect on the price right now, so much better like it will be in the next 3-6 months.
When Mt.Gox announced the release of BTC in August, there was a mixed reaction in the market. And I also think the market has fallen further due to this effect. But at current prices experienced people will never think of selling it. In that case the market will not be affected much. It will recover soon.
legendary
Activity: 3080
Merit: 1353
And then we went to $18k and the possibility of another lower lows, but it seems the market has bounce back above $19k but it was not a relief.

Maybe the news really affected us a bit because we remain below the threshold of the whole numbers - $20k. So the best thing now is to observed whether we can touch $19,700 at least this week so the pressure of selling might be taken off at least this weekend.

The news about the release of MT. Gox bitcoin which will start this month will play a huge factor in the next trend of Bitcoin.  I think this news will greatly affect the market because of the possible new volume of BTC to flocks in the sell order of Bitcoin market and might push the price of BTC even lower.  Another thing is the pressure of the next rate hike of FED as stated by Swordsoffreedom.  It looks like Bitcoin will possibly fall under 17k this month.  I hope it won't happen though.

I don't think the mtgox funds are going to start being distributed this month.  They just finalized claims.  More likely we will be given a page to select which payout we want (early or full) and then that process will likely go on for 3-6 months before they start distributing.  Just my opinion, it could be wrong.  I don't think anyone is going to get any funds from mtgox this month though, or next.  We have to decide what payout we want before the trustee can do anything and given that claims took almost 10 years to finalize, I don't see payout types being finalized instantly.

And since we are now in the second week of September, it seems that this news have been forgotten already. And if in fact it did have some effect, we definitely didn't feel it as the loom and doom prediction of $10,000 didn't happen. On the contrary, the price reaches another milestones in $22,000 and up.

So we will see if there is another news about the Mt. Gox coins being being dumped in the market. It might be a slow process or maybe the trustee knows that it will have a bad effect on the price right now, so much better like it will be in the next 3-6 months.
legendary
Activity: 1974
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And then we went to $18k and the possibility of another lower lows, but it seems the market has bounce back above $19k but it was not a relief.

Maybe the news really affected us a bit because we remain below the threshold of the whole numbers - $20k. So the best thing now is to observed whether we can touch $19,700 at least this week so the pressure of selling might be taken off at least this weekend.

The news about the release of MT. Gox bitcoin which will start this month will play a huge factor in the next trend of Bitcoin.  I think this news will greatly affect the market because of the possible new volume of BTC to flocks in the sell order of Bitcoin market and might push the price of BTC even lower.  Another thing is the pressure of the next rate hike of FED as stated by Swordsoffreedom.  It looks like Bitcoin will possibly fall under 17k this month.  I hope it won't happen though.

I don't think the mtgox funds are going to start being distributed this month.  They just finalized claims.  More likely we will be given a page to select which payout we want (early or full) and then that process will likely go on for 3-6 months before they start distributing.  Just my opinion, it could be wrong.  I don't think anyone is going to get any funds from mtgox this month though, or next.  We have to decide what payout we want before the trustee can do anything and given that claims took almost 10 years to finalize, I don't see payout types being finalized instantly.

Mt.Gox has informed the victims that it has until September 15th (today) to confirm compensation and that the release could also begin on September 16th and there's also no official announcement of a release date so what you suspect is entirely appropriate. Everything is just speculation.
They also made it clear in their announcement that the bitcoin release will be distributed in batches that could take several months to complete, they don't want them all released at once.

Rumors about Mt.gox have been circulating since late 2021 and there is still no more information than rumors so I am starting to doubt its reality.
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
And then we went to $18k and the possibility of another lower lows, but it seems the market has bounce back above $19k but it was not a relief.

Maybe the news really affected us a bit because we remain below the threshold of the whole numbers - $20k. So the best thing now is to observed whether we can touch $19,700 at least this week so the pressure of selling might be taken off at least this weekend.

The news about the release of MT. Gox bitcoin which will start this month will play a huge factor in the next trend of Bitcoin.  I think this news will greatly affect the market because of the possible new volume of BTC to flocks in the sell order of Bitcoin market and might push the price of BTC even lower.  Another thing is the pressure of the next rate hike of FED as stated by Swordsoffreedom.  It looks like Bitcoin will possibly fall under 17k this month.  I hope it won't happen though.

I don't think the mtgox funds are going to start being distributed this month.  They just finalized claims.  More likely we will be given a page to select which payout we want (early or full) and then that process will likely go on for 3-6 months before they start distributing.  Just my opinion, it could be wrong.  I don't think anyone is going to get any funds from mtgox this month though, or next.  We have to decide what payout we want before the trustee can do anything and given that claims took almost 10 years to finalize, I don't see payout types being finalized instantly.
STT
legendary
Activity: 4088
Merit: 1452
The news about Mt.gox hasn't really died down yet as they continue to announce that they will start issuing bitcoins after 9/15, which means they will release bitcoins as soon as the eth merge ends. This will continue to adversely affect the trend of bitcoin.

Today, the ECB decided to raise interest rates by 0.75%, an increase not seen since 1999 and continuing this September, we will also see the next rate hike by the Fed. Shows that the pressure will continue to weigh on the market, so the possibility that we have a strong plunge in September is inevitable.

Theres zero things that are inevitable or it would already be the price today, this all still seems like rumor vs news dynamic.   When this terrible feared event happens, it will probably have already been played out in terms of momentum enough to push the market lower.   We can certainly get selling exhaustion, if it was all just simple straight lines I could profit by being this pure negative seller without fear of market going up.   We know its alot harder and more confusing then that for bother sellers and buyers.



ECB raised rates for a larger amount then its done before, true enough.  Its also true that inflation is far higher then any rate of return given, the currency is losing value.  Its going to be years possibly before they catch up with excess currency already produced, politics is unlikely to stay the course to enforce perfect discipline required for currency stability.
legendary
Activity: 3010
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And then we went to $18k and the possibility of another lower lows, but it seems the market has bounce back above $19k but it was not a relief.

Maybe the news really affected us a bit because we remain below the threshold of the whole numbers - $20k. So the best thing now is to observed whether we can touch $19,700 at least this week so the pressure of selling might be taken off at least this weekend.

The news about the release of MT. Gox bitcoin which will start this month will play a huge factor in the next trend of Bitcoin.  I think this news will greatly affect the market because of the possible new volume of BTC to flocks in the sell order of Bitcoin market and might push the price of BTC even lower.  Another thing is the pressure of the next rate hike of FED as stated by Swordsoffreedom.  It looks like Bitcoin will possibly fall under 17k this month.  I hope it won't happen though.
legendary
Activity: 2884
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Leading Crypto Sports Betting & Casino Platform
^^ For now that we can say that there is an effect, but not that huge as expected by others. Some of them even predicts a $13k or even $10k price, but so far, we are still just above $20k.

Will still have a lingering effect at least at the end of the year? maybe, but at least we have weathered the storm and it is not that worse. Still though, we are in the bear market so anything negative can really affect the price.
Is it already pertaining on Mt.Gox coins? How about other market sentiments or totally just having those random normal days where price could really just go down without any reasons.

We cant really avoid not to think that this Mt.Gox coins are really giving out that kind of effect considering on how many coins been involved and creditors plans on selling their coins
then it cant really be avoided not to make out that impression which those coins would be sold afterwards.

Price now is playing in between 20k level neither below or lower but it do still get a good hold.

And then we went to $18k and the possibility of another lower lows, but it seems the market has bounce back above $19k but it was not a relief.

Maybe the news really affected us a bit because we remain below the threshold of the whole numbers - $20k. So the best thing now is to observed whether we can touch $19,700 at least this week so the pressure of selling might be taken off at least this weekend.

The news about Mt.gox hasn't really died down yet as they continue to announce that they will start issuing bitcoins after 9/15, which means they will release bitcoins as soon as the eth merge ends. This will continue to adversely affect the trend of bitcoin.

Today, the ECB decided to raise interest rates by 0.75%, an increase not seen since 1999 and continuing this September, we will also see the next rate hike by the Fed. Shows that the pressure will continue to weigh on the market, so the possibility that we have a strong plunge in September is inevitable.
hero member
Activity: 1344
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^^ For now that we can say that there is an effect, but not that huge as expected by others. Some of them even predicts a $13k or even $10k price, but so far, we are still just above $20k.

Will still have a lingering effect at least at the end of the year? maybe, but at least we have weathered the storm and it is not that worse. Still though, we are in the bear market so anything negative can really affect the price.
Is it already pertaining on Mt.Gox coins? How about other market sentiments or totally just having those random normal days where price could really just go down without any reasons.

We cant really avoid not to think that this Mt.Gox coins are really giving out that kind of effect considering on how many coins been involved and creditors plans on selling their coins
then it cant really be avoided not to make out that impression which those coins would be sold afterwards.

Price now is playing in between 20k level neither below or lower but it do still get a good hold.

And then we went to $18k and the possibility of another lower lows, but it seems the market has bounce back above $19k but it was not a relief.

Maybe the news really affected us a bit because we remain below the threshold of the whole numbers - $20k. So the best thing now is to observed whether we can touch $19,700 at least this week so the pressure of selling might be taken off at least this weekend.
jr. member
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I think what many people miss here is that everybody knows these coins will hit the bitcoin market soon.

The price of Bitcoin has already been adjusted for these coins. This is because in a free market, the stock market or the bitcoin market, actually price things in very fast and is forward looking or future looking, especially stuff like mt gox which everybody knows the amount of coins to be released.

This is how the stock market works also, and I see it all the time.

This basically means, 20K a bitcoin, already factored in that Mt Gox will be releasing a lot of coins. This usually means that once those coins get released, and soon after, the price of bitcoin will probably rise when people realize that these mt gox coins has not affected the price much at all and there is less risk to buy bitcoins.


So, to sum it up here, the price of Bitcoins will actually rise after Mt Gox release.


STT
legendary
Activity: 4088
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The release of coins alters liquidity but its not introducing anything new into the total known supply of BTC.    If it was still news that the coins were available then sure that alters something but literally just having BTC moving through the order books is a normal every day event.  Its the difference from day trading to actual alteration of trend or long term expectations.
    Its not quite the bearish event to fear that some might think, inversely the same thing has to be said when Musk comes out with news he bought some BTC.   Only the usage is the really positive news for BTC, somebody buying or selling doesnt especially alter anything even if they are billionaire or a larger amount like Mt. Gox.     Whales can get washed up on the shoreline same as everything else in the sea, the entire ocean is far larger and thats how I view the direction of BTC in longer term prospects, tides matter people can only make small waves in comparison.
hero member
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^^ For now that we can say that there is an effect, but not that huge as expected by others. Some of them even predicts a $13k or even $10k price, but so far, we are still just above $20k.

Will still have a lingering effect at least at the end of the year? maybe, but at least we have weathered the storm and it is not that worse. Still though, we are in the bear market so anything negative can really affect the price.
Is it already pertaining on Mt.Gox coins? How about other market sentiments or totally just having those random normal days where price could really just go down without any reasons.

We cant really avoid not to think that this Mt.Gox coins are really giving out that kind of effect considering on how many coins been involved and creditors plans on selling their coins
then it cant really be avoided not to make out that impression which those coins would be sold afterwards.

Price now is playing in between 20k level neither below or lower but it do still get a good hold.
hero member
Activity: 1344
Merit: 540
^^ For now that we can say that there is an effect, but not that huge as expected by others. Some of them even predicts a $13k or even $10k price, but so far, we are still just above $20k.

Will still have a lingering effect at least at the end of the year? maybe, but at least we have weathered the storm and it is not that worse. Still though, we are in the bear market so anything negative can really affect the price.
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
So its pretty much end of August and so far nothing I heard about the distribution of the coins. Anyone a creditor who has some insider information on exactly when this distribution should start?

A new email just went out a few minutes ago to creditors.  It says that there is a start date for assignment of 9/15 so your guess is as good as mine if that's when they'll start making payments or if that's when they'll finalize claims.  I still haven't been asked if I wanted early payout or to wait for the maximum amount, so I wouldn't expect payouts to begin yet.  There is movement though so it is looking like there will be a distribution of some sorts in the coming months.
Today is the first day of September, which means that this topic is no longer relevant. At least the title. Unless, of course, rename August in the title topic to September. As we can see, "Mt. Gox coins had no effect on Bitcoin’s price in August".
 
Are you sure that you will be asked whether you want an early payout or wait for the maximum amount? What if they decide it for you? From the outside it seems to me that they are deliberately playing for time and, as you said, it is also not worth expecting payments in September. This means that it will not affect Bitcoin’s price so soon.

The early payout vs final payout is mentioned several times in the new documents as well as having always been mentioned.  I'm as certain as one can be when dealing with gox that I'll be asked what I want.  Now that the final date to transfer claims has been set as the 15th, I imagine the next step will be selecting how you want your payout and which payout you want.  I would guess (just a guess) that this process takes between 3-6 months, at which point probably another 3 months for the payouts to happen and then a final payout probably 3 months after that.

So will the gox coins effect the price in August?  I think the rumors did, but that's it.

After reading and digesting the information do I think the payouts will happen soon?  Probably not, but there's a tiny chance they could happen this year.  More likely next spring.
legendary
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So its pretty much end of August and so far nothing I heard about the distribution of the coins. Anyone a creditor who has some insider information on exactly when this distribution should start?

A new email just went out a few minutes ago to creditors.  It says that there is a start date for assignment of 9/15 so your guess is as good as mine if that's when they'll start making payments or if that's when they'll finalize claims.  I still haven't been asked if I wanted early payout or to wait for the maximum amount, so I wouldn't expect payouts to begin yet.  There is movement though so it is looking like there will be a distribution of some sorts in the coming months.
Today is the first day of September, which means that this topic is no longer relevant. At least the title. Unless, of course, rename August in the title topic to September. As we can see, "Mt. Gox coins had no effect on Bitcoin’s price in August".
 
Are you sure that you will be asked whether you want an early payout or wait for the maximum amount? What if they decide it for you? From the outside it seems to me that they are deliberately playing for time and, as you said, it is also not worth expecting payments in September. This means that it will not affect Bitcoin’s price so soon.
legendary
Activity: 1722
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So its pretty much end of August and so far nothing I heard about the distribution of the coins. Anyone a creditor who has some insider information on exactly when this distribution should start?

A new email just went out a few minutes ago to creditors.  It says that there is a start date for assignment of 9/15 so your guess is as good as mine if that's when they'll start making payments or if that's when they'll finalize claims.  I still haven't been asked if I wanted early payout or to wait for the maximum amount, so I wouldn't expect payouts to begin yet.  There is movement though so it is looking like there will be a distribution of some sorts in the coming months.

As far as I understand, Spetember 15th is the deadline for claims, which will be finalised followed by the repayments. I've still read elsewhere that the dsitribution won't occur for another 6-12 months from claimants in the know, for whatever reason, around the same time as staked ETH is unlocked post-merge. Ideally this can all happen with Bitcoin bouncing back to $40K to $50K levels.

Not convinced anyone's seeing any of those Bitcoin's next month quite yet, even if it'd be better to get this distribution out the way sooner rather than later.
donator
Activity: 4760
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Leading Crypto Sports Betting & Casino Platform
So its pretty much end of August and so far nothing I heard about the distribution of the coins. Anyone a creditor who has some insider information on exactly when this distribution should start?

A new email just went out a few minutes ago to creditors.  It says that there is a start date for assignment of 9/15 so your guess is as good as mine if that's when they'll start making payments or if that's when they'll finalize claims.  I still haven't been asked if I wanted early payout or to wait for the maximum amount, so I wouldn't expect payouts to begin yet.  There is movement though so it is looking like there will be a distribution of some sorts in the coming months.
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