Will the Mt. Gox coins affect Bitcoin’s price? Or is it another FUD in attempt to dump the price of BTC?
The bitcoin lost means the coin value is distributed on other remaining coins in circulation, this makes the remaining coin in circulation to have more value as the supply in circulation reduced as the lower the supply the higher the price. If coins that has been abandoned for years is introduced back into circulation, this may affect the price of bitcoin as the supply in circulation increases as dormant coin in the past is released into circulation as they distribute it for people. But the question should be 'is 137000 BTC large enough to cause price decrease'? I think it is not significant enough to cause significant effect on bitcoin price. 
Topic: Will the Mt. Gox coins affect Bitcoin’s price in August? - page 5. (Read 804 times)
Nobody can predict that with certainty. It will depend on how many people need money now and how many can afford to hold knowing that bitcoin is down 70% from its high.
Those who had btc for trading in 2013 and wanted to make fiat as soon as possible will probably sell. Those who despite losing money on Gox bought back in and remained in the space will probably hold or at least hold some of it.
Those who had btc for trading in 2013 and wanted to make fiat as soon as possible will probably sell. Those who despite losing money on Gox bought back in and remained in the space will probably hold or at least hold some of it.
~ Many of those who plan to receive payment with Bitcoin are likely to store BTC rather than selling it when Bitcoin has decreased by more than 60%.
Yeah it dropped sharply but let's not forget that the Mt. Gox incident was like 2014 and the price back then was just around $500-$600 per bitcoin. The current price isn't going to be much of a factor because they are clearly still in a good place if they decide to sell once they got their share.As to the effect on the market, it might cause another dive to $18K level (could be lower) but it will be absorbed like any other sell offs.
I am going to go with probably not much. Some people will sell because they need to get fiat for whatever reason. But, I think most others that have been waiting years are going to wait for the next bull run. At which point 200000 coins although a large number is not going to matter much as they are not all going to be dumped at once. And even a few hundred or a few thousand being put into the open market over a few days is not that big a deal IMO.
As for the people who bought out peoples claims for very little. They are the ones who are going to sit on the coins till well into the next big bull run since they are in it for the money.
Obviously, this is all just what I think, could be totally wrong.
-Dave
As for the people who bought out peoples claims for very little. They are the ones who are going to sit on the coins till well into the next big bull run since they are in it for the money.
Obviously, this is all just what I think, could be totally wrong.
-Dave
137,000 BTC worth roughly $2.8 billion will soon be released into the market as funds lost to the Mt. Gox hack of 2011 and subsequent loss of 850,000 BTC worth around $17.8 billion at today’s price. In 2014 Mt. Gox reported that it had found 200,000 BTC, but those coins have been locked in litigation until now.
https://news.coincu.com/108363-mt-gox-to-disburse-150k-btc-is-approaching/
Will the Mt. Gox coins affect Bitcoin’s price? Or is it another FUD in attempt to dump the price of BTC?
According to coincu.com:
"...many creditors have already sold their claims to crypto funds. Groups such as Fortress Investment Group LLC offered creditors an early payout of between $600 and $1,300 in cash.
Moreover, creditors who do not want to pay early may not want to liquidate their Bitcoin because they want to store long-term BTC. Many of those who plan to receive payment with Bitcoin are likely to store BTC rather than selling it when Bitcoin has decreased by more than 60%. Others invest in altcoins like Ethereum."
https://news.coincu.com/108363-mt-gox-to-disburse-150k-btc-is-approaching/
Will the Mt. Gox coins affect Bitcoin’s price? Or is it another FUD in attempt to dump the price of BTC?
According to coincu.com:
"...many creditors have already sold their claims to crypto funds. Groups such as Fortress Investment Group LLC offered creditors an early payout of between $600 and $1,300 in cash.
Moreover, creditors who do not want to pay early may not want to liquidate their Bitcoin because they want to store long-term BTC. Many of those who plan to receive payment with Bitcoin are likely to store BTC rather than selling it when Bitcoin has decreased by more than 60%. Others invest in altcoins like Ethereum."
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