BITCOIN - Mt Gox adds to worries

24 ส.ค. 2022

I am still more Bullish than bearish and i do hope BTC can break higher next, back into the ascending channel and Bullish formation.

Nevertheless, there are factors to consider and one of them is this:

Mt. Gox Bitcoin hack refund date and details

Repayment plan
Some 200,000 of the stolen bitcoins were recovered by Mt. Gox's team in 2014, but these coins have been locked in litigation since.

In November 2021, a rehabilitation plan drawn by Mt. Gox bankruptcy trustees was made binding by Tokyo District Court's confirmation order.

On 6 July 2022, Mt. Gox bankruptcy trustee, Nobauaki Kobayashi, sent out letters to creditors, outlining the next steps of the repayment plan.

Kobayashi stated that “from approximately the end of August this year until all or part of the repayments made as initial repayments is completed for safe and secure repayments.”

A Twitter user writing under the nickname Sergio Bitcoin wrote.“They haven't had access to their bitcoin for eight years, and they are on average 80-100x up on their investments. Of course, at least half of them will sell.”

Expected 'sometime end of August'.

This in combination with all the major shit in the world economy are adding to worries. Thursday is Preliminary GDP for the US which could be negative (then again hopefully it's not that bad)

In any case, we just follow the chart, which as you can see is a bit of a puzzle at the moment.


One Love,

the FXPROFESSOR