‘Completely Crash the Market’The market crash would conceivably take place as a result of investors selling their upwards of 160,000 bitcoins upon receipt at current valuations. It is unlikely that the current market will see enough buyers to meet the selling demand, potentially triggering a cascading sell-off to new yearly lows. As noted by The Telegraph, investors have until Oct 22 to legally file claims on their lost bitcoins.
Who Will Buy?At the time of this writing, Bitcoin is trading at $6,482 per coin after a week of fairly uneventful consolidation following the last dramatic sell-off. Volume remains especially low. When said volume re-enters the market — say, from Mt. Gox sellers — the price could conceivably be moved dramatically. Willing buyers may not be found until the ‘big even’ psychological support of $5,000. What do you think about the impending sell-off of from Mt. Gox investors? Do you think this event will crash the market, or is it merely just FUD (Fear, Uncertainty, and Doubt)? Let us know your thoughts in the comments below! [Disclaimer: This article is not intended as financial advice. BeInCrypto is not responsible for any readers’ financial gains or losses.] [Full Disclosure: The author of this article holds and trades Bitcoin (BTC).]
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