Bitcoin’s latest dip has been attributed to Mt. Gox selling off almost 40,000 Bitcoin. Now that the sell off has stopped, Bitcoin is very likely to surge.

Mt. Gox is an infamous cryptocurrency exchange. In 2014, nearly a million Bitcoin was stolen by hackers. As a result, many people who stored their Bitcoin in Mt. Gox lost all of it. This lead to many class-action lawsuits against Mt. Gox from people who wanted their money back.

Because of the lawsuits, Mt. Gox is forced to liquidate a lot of its remaining assets to pay off the lawsuits. The most recent crash in Bitcoin has been attributed to this.

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