The nearly $9 billion in Mt. Gox creditor repayments starting July may not kick down the price of Bitcoin, but they could spell trouble for Bitcoin Cash.) to creditors next month may not cause as much mayhem for the price of Bitcoin as many expect, say analysts.
Despite the potential upcoming flood of Bitcoin onto the market, Sycamore said he believes that much of the supposed Mt. Gox sell pressure was already priced into the current market conditions.
“I think we’ve just had a flush. The cause of the flush is all of these effects culminating in the expectations of Mt. Gox selling,” he said, adding: Additionally, he added that 20,000 BTC were owed to claims funds, and roughly 10,000 BTC were owed to Bitcoinica BK — leaving just 65,000 to go to regular creditors.Additionally, Thorn explained that there were several reasons to believe that individual Mt. Gox creditors would be more “diamond-handed” than the market expects.
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