GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
The events led to new worries about bitcoin investments that have beenheading in the wrong direction of late.
Gox, a Tokyo-basedcrypto exchangethat went bankrupt a decade ago after being hacked.
Gox recently started returning about $8-$9 billion in bitcoin to creditors.
As of Monday, it had been verified that 47,228 bitcoins from a Mt.
The price of bitcoin fell nearly 12% intraday on Monday before closing at around $55,500.
But much of it has to do with Mt.
As the [Mt.
Market observers worry that a sudden influx of bitcoins could overwhelm demand, driving prices further down.
This liquidation of seized crypto assets from criminal groups adds to the overall selling pressure, he wrote.
Despite the recent volatility, somecryptocurrencyexperts remain bullish on bitcoins long-term potential.
Near-term, industry watchers are expected to keep a close on how the market reacts to the Mt.
The coming weeks will be crucial, with investor sentiment likely hinging on developments surrounding Mt.
Gox repayments and further German government actions, Bhardwaj wrote.
More From GOBankingRates
Share This Article:
