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Mt. Gox Doomsday Scenario Involves Bitcoin Cash, Not Bitcoin: Analyst

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Selling pressure from Bitcoin Cash (BCH) and lack of liquidity is the story to watch once Mt. Gox begins redemptions, writes Presto Research.

Mt. Gox will send back to its former customers $73 million worth of BCH, worth over 20% of the token's daily trading volume.is unfounded, but it could be a bearish scenario for Bitcoin Cash , Presto Labs' Head of Research wrote in a note.

In addition to the roughly $9.5 billion in BTC the former exchange will send back to its customers, Mt. Gox will also send back 143,000 BCH worth around $73 million.shows that Bitcoin Cash has a daily trading volume of $308.8 million, making this redemption worth around 24% of that number.

 

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