Bitcoin FUD is Back, Will Traders Again Fall into the Trap as Mt. Gox Rehabilitation Plan to Accomplish in the Next 14 Days?
The post Bitcoin FUD is Back, Will Traders Again Fall into the Trap as Mt. Gox Rehabilitation Plan to Accomplish in the Next 14 Days? appeared first on Coinpedia Fintech News
The crypto markets have undergone massive price action since the start of the month. The tokens started the monthly trade with a massive descending trend as the selling pressure mounted. This further escalated with a couple of FUD attacks on the markets, like the BTC transfers from Mt. Gox and the German government. Moreover, the sale of more than 40,000 BTC created bearish waves across the markets.
Now that the markets appear to have overcome the selling pressure, another terror is poised to strike the crypto space. The widely known transfers from the infamous Mt. Gox exchange fiasco could have a similar impact on the markets. As per recent data from a popular on-chain platform, Arkham, $5.8 billion worth of BTC has been on the move since the early trading hours.
The creditors have reportedly received an email from the exchange saying that they have received the funds from Mt.Gox and may take another 7 to 14 days to distribute them. The number of BTC which will be received has already been determined by the Trustee and will be distributed according to the given instructions.
Therefore, another Bitcoin FUD appears to be on its way, as the price dropped by 3% with this news. The Mt. Gox situation could be artificially created FUD, which may force the traders to sell their assets. However, studying the past cycles, it appears that the market makers have manipulated the Mt.Gox news multiple times and hence this time, it may not have a major impact as everyone may forget this situation very soon as they forget the FUD created after the Germans sold their BTC.
