Analyst: Selling Pressure from Mt. Gox Bankruptcy Redemptions Could Be Positive for BCH
Bitget2024/07/04 08:07
Fears that selling pressure from Mt. Gox's bankruptcy redemptions will drive the BTC price down are unfounded, but this could be a positive scenario for BCH, Presto Labs' head of research wrote in a report. In addition to the roughly $9.5 billion in BTC that the former exchange will return to its customers, Mt. Gox will also return 143,000 BCH, valued at about $73 million, with data showing that Bitcoin Cash's daily volume is $308.8 million, and that the value of this redemption is roughly 24 percent of that figure.
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