Post
Topic
Board Speculation
Merits 2 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Farmer Bill
on 12/11/2021, 18:56:27 UTC
⭐ Merited by vapourminer (2)
Just one thing in my mind...

Nobody talked/talk here about the release of 140K BTC from Mtgox (should be very soon) ?

I assume it doesn't change the long term view on BTC... But into this bull market cycle (still quite calm and not so explosive as many expected/expect till now) , I am curious to see how the market can react at least on a short time view. Some drop again? 52K? 42K?

On the other hand, we have all the positive fondamental from the BTC side : ETF, GAFA owning BTC (corporate or individuals), legal tenders started in Central-South America... And if we are honest, on 2015 or 2017 we even didn't think about these points. So should be VERY bullish now IMHO.

HODL.




This has been at the back of my mind too.

I had an account at Gox but withdrew my coins before withdrawals were stopped.

I did consider at the very end to deposit $100 for a punt as this would have bought 1 BTC when market price was several times that. Had I done so my recompense today in fiat terms would be a nice windfall.

I think most Gox customers would be people like me, I'd take the settlement in BTC and put in in my cold wallet.

For those taking settlement in fiat I imagine the trustees, not wanting to collapse the market, (like they did when some BTC were sold to pay the insolvency administrators) would seek an OTC solution. I'm sure major players are aware of the situation.

There is about $9 billion to disburse, which will be spread over a fairly long timeline, of course it will affect the market but probably not by that much.