Mt. Gox A Bubble Waiting To Burst

Mt. Gox is a Japanese exchange which has gone under the water for quite some years now after the hack that drove them to bankruptcy in 2014. A centralized crypto exchange which was short lived, in part of their bankruptcy process which they made an announcement that they will start repaying back to their clients in bitcoin which is said to commerce in march of this year.

source

Seems is should be something that we should be scared about, as this activities might possibly cause a massive sell order on the side of bitcoin which will affect it's market selling price.

“I think it is going to mean a brutal amount of sell-side pressure. People who have had Bitcoin since back when it was double, triple digits, just a couple dozen dollars, or a couple hundred bucks, and they’re going to want to start to take profit because they feel that Bitcoin as an asset is done for.”

The above statement is what the host of data dash thinks that could possibly play out when this is done by the crypto exchange.

If you see this post on a Web2 ecosystem and you have no clue about what Leofinance is here is a brief definition;

LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
Over here we refer to users as lions, so are you ready to be a lion here is my referral link

Also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.

Let’s also connect on some of the web2 platform.
Twitter:Hironakamura

Posted Using LeoFinance ^Beta