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Mt Gox 144000 BTC in 26 days won’t crash the market

Here are 3 reasons why I think the 144000 BTC (8.5 Billions dollar) that will be drop on Exchanges by the liquidator of Mt Gox won’t crash the market in 26 days:

1 – Most Mt Gox victims that was a weak hand was offered to sell his position to a third party for 14000$ in 2018. Majority did. So very few of the victims should sell at “any” price.

2 – There are big institutionals that are buying. They can swallow this 144000 BTC.

3 – The liquidator will be sending most of the 144000 BTC to Exchanges wallets of the victims. Previously the liquidator was selling the BTCs and it was suspected of crashing the market.

144000 BTC is a lot. Last week it took only 840 BTC to create the flash crash to 8500$ at Binance.us because their order book on the spot Exchange is 2000 BTCs at the most at anytime. But I think Mt Gox liquidator will spread the 144000 BTC drop over many days to prevent a crash. https://www.coindesk.com/markets/2021/10/21/bitcoin-price-flash-crash-on-binanceus-attributed-to-trader-algorithm-bug/



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25 Comments

  1. The crux of this is that to crash the price BTC would have to be sold.

    The assumption that everybody is going to sell their BTC the moment they get it back is faulty – we have no idea how many creditors will sell, or when. If anything the fear of a coordinated selloff is more likely to impact the price.

    Either way, pop some offensively low buy orders in and if you’re very lucky you’ll get some cheap BTC.

  2. > I think Mt Gox liquidator will spread the 144000 BTC drop over many days to prevent a crash.

    The MtGox trustee already crashed the market at least once and maybe twice by dumping large quantities all in one shot.

    Of course, this time the Bitcoin is just getting distributed to its rightful owners, so they’ll do whatever they want, I guess.

  3. 1. the BTC won’t hit the market in 26 days. It’ll be at some point next year if everything goes smoothly (And nothing went smoothly till now…)
    2. I don’t know what others will do, what I will do is I’ll put the Bitcoins into cold storage and will exchange the fork coins and Yen for more Bitcoin

  4. “144” is a Fibonacci number that is associated with the
    “Jesuit order” and the jesuits run the financial sector. In addition when you look at btc price action it’s tied to the “144” number check the charts. On 14 April (144) BTC hit a high. And this past week on 10/20 on the full moon before it’s dump due to the full moon energy…. BTC hit $66,600 👁 (“666”) 👁 at 10:44 (144). What do I know tho.

  5. If/when if ever happens, maybe the market will pump!

    This is the last publicly known slug of old BTC that has been overhanging the market for years. Everyone has known it is coming eventually. Now prices are already making new highs. Maybe this finally gets out of the way and price explodes?

  6. We (the mtgox creditors) are **NOT** getting our coins in 26 days, this is utter non-sense. It’s going to take *at least* months.

    Also, point 1 is non-sense: there were polls on the insolvency sub, and it’s generally close to 50/50 between HODL and selling right away. Most people who didn’t sell to Fortress but want to sell right away, didn’t sell to Fortress just because it would mean getting less money, doesn’t mean they want to HODL though, this is non-sense.

  7. If I was forced to hold that long, yes I’d probably sell too. I think you’re all on copium, thinking someone who could be a millionaire would just continue holding. Especially if there’s fud around others pulling out

What do you think?

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