Investing.com-- Bitcoin price fell sharply to a four-month low on Friday, extending a recent price slump as growing signs of an impending distribution by defunct crypto exchange Mt Gox ramped up selling pressure on the token.
Mt Gox’s liquidators said in June that they will begin returning Bitcoin stolen during a 2014 hack back to clients from early July. Traders speculated that most receivers of the tokens will be inclined to sell them, given that Bitcoin’s price rose exponentially in the past decade. Broader cryptocurrency prices tracked steep declines in Bitcoin, with uncertainty over the U.S. presidential election and interest rates also factoring into weak sentiment towards crypto.
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