Analyst: Selling Pressure from Mt. Gox Bankruptcy Redemptions Could Be Positive for BCH
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.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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