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Bitbank analyst: Mt.Gox compensation is expected to have little impact on the market, and its impact has been over-digested
2024-07-08 12:13:49
Odaily News Bitbank, a cryptocurrency exchange that supports the Mt. Gox reimbursement effort, said it expects changes in Mt. Gox's wallet balance to have less impact on the market. Yuya Hasegawa, crypto market analyst at Bitbank, said: "When the Mt. Gox trustee officially announced that they had begun repayments, Bitcoin was already fluctuating around $54,000. After the announcement, the price of Bitcoin rebounded and briefly recovered to $58,000 last weekend. "Before Mt. Gox began to pay, the market had already over-digested its impact and then reacted to the (U.S.) jobs report released last Friday, which was released after Mt. Gox began to repay," Hasegawa added. "This shows that market concerns about Mt. Gox repayments are beginning to wane, and their focus is turning back to the Fed's policy decisions." (CoinDesk)