Hours after the announcement from Mt. Gox, the bankrupt crypto exchange, regarding the commencement of repayments to its users, there was a notable decrease in the price of Bitcoin. This drop in price is expected to have a considerable impact on the market, as over $9.4 billion worth of Bitcoin will be distributed to around 127,000 Mt. Gox creditors. These individuals have patiently awaited access to their funds for more than a decade. Eric Balchunas, a senior ETF analyst at Bloomberg, suggests that this influx of Bitcoin into the market could result in substantial selling pressure.
