{"id":488251,"date":"2022-08-27T19:35:06","date_gmt":"2022-08-27T16:35:06","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/mt-gox-rumors-panic-bitcoin-twitter-as-btc-price-returns-below-20k\/"},"modified":"2022-08-27T19:35:06","modified_gmt":"2022-08-27T16:35:06","slug":"mt-gox-rumors-panic-bitcoin-twitter-as-btc-price-returns-below-20k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/mt-gox-rumors-panic-bitcoin-twitter-as-btc-price-returns-below-20k\/","title":{"rendered":"# Mt. Gox rumors panic Bitcoin Twitter as BTC price returns below $20K"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35c4f07630e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35c4f07630e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/mt-gox-rumors-panic-bitcoin-twitter-as-btc-price-returns-below-20k\/#%E2%80%9D_Mt_Gox_rumors_panic_Bitcoin_Twitter_as_BTC_price_returns_below_20K_%E2%80%9C\" >&#8221; Mt. Gox rumors panic Bitcoin Twitter as BTC price returns below $20K &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/mt-gox-rumors-panic-bitcoin-twitter-as-btc-price-returns-below-20k\/#Mt_Gox_rumors_dismissed_as_%E2%80%9Ctypical_crypto%E2%80%9D\" >Mt. Gox rumors dismissed as &#8220;typical crypto&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/mt-gox-rumors-panic-bitcoin-twitter-as-btc-price-returns-below-20k\/#Profits_get_squeezed_in_weekend_volatility\" >Profits get squeezed in weekend volatility<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Mt_Gox_rumors_panic_Bitcoin_Twitter_as_BTC_price_returns_below_20K_%E2%80%9C\"><\/span>&#8221; Mt. Gox rumors panic Bitcoin Twitter as BTC price returns below $20K &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-28d77a7a>Bitcoin (BTC) failed to keep $20,000 support on Aug. 27 as fears over a sell-off by users of defunct exchange Mt. Gox added to price pressures.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/5dfa70e7-a935-4b03-a5a1-0eed7baff424.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Mt_Gox_rumors_dismissed_as_%E2%80%9Ctypical_crypto%E2%80%9D\"><\/span>Mt. Gox rumors dismissed as &#8220;typical crypto&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0followed BTC\/USD as it headed to new six-week lows, reaching $19,766 on Bitstamp.<\/p>\n<p>Thin weekend liquidity <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared to exacerbate already jittery markets, which reacted badly to unconfirmed rumors that Mt. Gox funds were due for release to creditors on Aug. 28.<\/p>\n<p>Claims varied widely at the time of writing, with some believing that a tranche of 137,000 BTC was set for release in one go. Others said that funds would be sent piecemeal, but that payouts would nonetheless begin this weekend.<\/p>\n<p>A point of consensus came in the form of creditors allegedly wanting to sell BTC owed to them, this having been out of reach since 2014, when BTC\/USD traded at under $500. The unrealized 40X returns, they feared, would prove too enticing for creditors to become willing hodlers.<\/p>\n<p>Mt. Gox imploded with hundreds of thousands of bitcoins almost ten years ago. Following a lengthy legal procedure dealing with funds subsequently recovered from the exchange, the appointed rehabilitation trustee,\u00a0Nobuaki Kobayashi, announced\u00a0on July 6 that he was &#8220;preparing to make repayments&#8221; to creditors.<\/p>\n<p>In <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.mtgox.com\/img\/pdf\/20220706_announcement_en.pdf\">documentation<\/a> at the time, Kobayashi gave &#8220;the end of August&#8221; as a reference period during which some initial payments might begin.<\/p>\n<p>&#8220;Following discussions with the Court and in accordance with the Rehabilitation Plan, the Rehabilitation Trustee plans to set the Assignment, etc. Restriction Reference Period 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,&#8221; part of it read.<\/p>\n<p>With no new official information appearing on the dedicated website covering the rehabilitation proceedings, however, it remained unclear as to why the sell-off rumors had gained so much traction so quickly.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Also this is only for those who choose the early lump sum payment which means they only get a portion of their bitcoin. Those who wait until the end of civil rehabilitation period will get more which is years from now.<\/p>\n<p>\u2014 Danny Devan (@dannydevan) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/dannydevan\/status\/1563548010826514432?ref_src=twsrc%5Etfw\">August 27, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>For trader and analyst Josh Rager, meanwhile, even if the full hoard of BTC were sold at once, the resulting selling pressure would not create the kind of apocalyptic event some imagined.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">MT GOX release probably creating more fear than needed<\/p>\n<p>140k BTC = $2.8B <\/p>\n<p>BTC daily trade volume $20B to $30B<\/p>\n<p>These BTC aren&#8217;t going to be all sold at once <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ZLBh0HVIgs\">https:\/\/t.co\/ZLBh0HVIgs<\/a><\/p>\n<p>\u2014 Rager  (@Rager) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Rager\/status\/1563517175553409026?ref_src=twsrc%5Etfw\">August 27, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&#8220;The fear around the release of, potentially, the Mt. Gox Bitcoins is just unwarranted,&#8221; Cointelegraph contributor Micha\u00ebl van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1563251182243483648\">added<\/a>. <\/p>\n<blockquote><p>&#8220;Typical crypto.&#8221;<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Profits_get_squeezed_in_weekend_volatility\"><\/span>Profits get squeezed in weekend volatility<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The latest losses nonetheless triggered more pain for existing BTC hodlers.<\/p>\n<p><strong><em>Related:\u00a0US stocks lose $1.25T in a day \u2014 more than entire crypto market cap<\/em><\/strong><\/p>\n<p>According to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1563545763288064005\/photo\/1\">data<\/a> from on-chain analytics firm Glassnode, the percentage of the overall BTC supply in profit hit a one-month low on the day at just above 55%.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/84c28bea-a9fc-45e4-b411-bf3ae969df22.png\"><\/figure>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1563545770933899264\/photo\/1\">Older coins<\/a> continued a trend of increasing dormancy, meanwhile, with the percentage of the supply last leaving its wallet two years ago or longer hitting ten-month highs.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/8f9caf90-1059-4427-918d-b86704cf0e96.png\"><\/figure>\n<p>Cointelegraph recently reported on hodler habits remaining broadly unchanged despite the 2022 crypto market drawdown.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/mt-gox-rumors-panic-bitcoin-twitter-as-btc-price-returns-below-20k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Mt. Gox rumors panic Bitcoin Twitter as BTC price returns below $20K &#8220; Bitcoin (BTC) failed to keep $20,000 support on Aug. 27 as fears over a sell-off by users of defunct exchange Mt. Gox added to price pressures. BTC\/USD 1-day candle chart (Bitstamp). Source: TradingView Mt. Gox rumors dismissed as &#8220;typical crypto&#8221; Data&#8230;<\/p>\n","protected":false},"author":1,"featured_media":488252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvMzE4NDliYzEtZjRhOS00NmQ4LTg5MDktNjI5NWRmYWRkMGU5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-488251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/488251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=488251"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/488251\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/488252"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=488251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=488251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=488251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}