- Bitcoin traded at $20,458 with a trading volume of $26 billion.
- Mt. Gox sold 25,000 Bitcoins in 2018 for around $260 million.
MT. Gox, a Tokyo-based cryptocurrency exchange ranked as the most significant Bitcoin exchange in the world before it lost 850,000 BTC in 2014. Now it has transferred 150,000 BTC worth $3 billion to an unknown wallet, the flood of these assets may alarm investors and drive more market FUD.
It appears that another black swan event is looming in the midst of Bitcoin’s recent decline and as Mt. Gox gets ready to make repayments. The metaphorical “black swan” alludes to a circumstance that is unexpected and has a significant impact. Now, the future of the king’s currency can only be determined with time.
Furthermore, Mt. Gox sold 25,000 Bitcoins in 2018 for around $260 million, which initiated a multi-year bear trend. The price of BTC plunged below $3,000 during this bear market after skyrocketing to the ATH of $20,000 earlier.
New selling pressure started to arise as Mt. Gox users are ready to reclaim their BTC and the exchange sold $3 billion in BTC. According to CMC, at the time of writing bitcoin traded at $20,458 with a trading volume of $26,989,469,863. BTC is down 4.04% in the last 24 hours with a market cap of $390,567,846,972.