1 mZIQsdbu1FvvCcnjWZEODQ The event that could revolutionize crypto is finally here!

The event that could revolutionize crypto is finally here!

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-In 2011, Mt. Gox was handling over 20,000 transactions per day and was the go-to exchange for Bitcoin
-In 2014, Mt. Gox was hacked and 850,000 Bitcoin (worth $17 billion today) was stolen
-In 2021, the Tokyo District Court handling the Mt. Gox case announced the intentions to repay through what they described as the “Rehabilitation Plan”
-137,890 lost Bitcoin, with a combined value of over $3 billion, are about to be given back to the original owners
-The repayment of the coins is suspected to be progressively done, over a three-month period from August to October
-Many of the creditors bought at prices as low as $1000, so all of them will have made enormous returns with that recovered Bitcoin
-The temptation to sell will be huge
-Looking at these reasons, you’ll maybe be tempted to think that we are in for Bitcoin’s doomsday. Despite this, there are also plenty of reasons to think that will not be the case:
-The repayment of the coins is suspected to be progressively done, over a three-month period from August to October. More than a one-day implosion, the selling pressure could last for more time but with a more gradual decline
-The creditors are all long-time owners that understood the power and potential of Bitcoin long before any of us did. Consequently, chances are they still understand its potential and will continue to hold at least some part of the coins received
-Liquidations and panic sellers aside, everybody understands it is not a good time to sell your coins as we clearly are on a bear market, and the historical trend for Bitcoin is always positive. Many of the creditors will see it this way and hold for a little while longer
-Considering all the recent liquidity issues across the space, especially in CeFi protocols, many of these creditors will be extremely wary of depositing their coins in exchanges, as liquidity problems always evolve into halted withdrawals
-No one knows what is going to happen. If someone claims that they know, they are full of sh**
-I am personally invested in crypto, in blockchains like Bitcoin, Ethereum, Avalanche, and Cardano, so I do have considerable hope and interest in the success of the space. Despite that, I do understand the risks of my investments, and by no means we are guaranteed to succeed

 

 

1*mZIQsdbu1FvvCcnjWZEODQ The event that could revolutionize crypto is finally here!
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