Bitcoin Forum

What are we going to do about the 2 billion worth of BTC that Mt Gox plans to release very soon to the public, won't this make BTC crash heavily or the rumour is fake?.

Even if it was not a fake rumour, is the 2 billion worth of Bitcoins (approximately, 93,652 BTC at the moment which is 0.49% of the total circulating supply) going to be sold off at once?
If no, then why should we have to worry?
The market will absorb the shock.

Taking the currently daily volume as example (37,496,509,590$), the mentioned sum of money would represent 5,33%. That is a significant amount to be dropped on the market simultaneously, although we don't have sure if receivers are going to sell those coins or hold. Added to those 2$ billion dollars there is the judicial permission to Celsius crypto lending bankrupted company to sell their mined bitcoins. I just don't know how many btcs they are going to sell, but whales knowing about these news can find the perfect opportunity to manipulate the market, driving to a deeper crash.

Mt.Gox's release of bitcoins to pay victims during that year will not increase the bitcoin supply, since there are still 21 million bitcoins in the world, so I don't think it's too serious here.

If people get their bitcoins back and they sell all of them on the market, this is seen as the next opportunity for those who don't trust enough to buy bitcoins when bitcoin was at $17k and they regretted it hitting $23k in recent days. It is better to see this as an opportunity rather than another cause for concern, a drop in bitcoin is good for us.

I do not see much of a reason to be worried, is it 2 billion a huge amount of money for people like us? Of course, but is it an impossible amount of money for the market to absorb even if we assume all the coins are sold at the same time? Of course not, the price will most likely go down as the demand is not really that high now but that is pretty much it, after a period of stabilization the price should return to the current levels without too much of a problem.

Regardless if it's true or not, it's not that it will just create a sudden dump. If so, then "HUG THE DIP".

Selling those quantities at a one-time big-time might create a possible huge crash but for big investors, who else doesn't want to buy at an unexpected bottom price that we might not see again once the bull trend commences?

Those supposed dump bitcoins will surely be absorbed easily into the market by most traders and that will lead again to fuel the recovery period to where it all started at the price before that supposed speculative crash.

Selling at once BTC worth 2 Billion dollars will certainly cause a crash and panic, but I don't think it will take long for the market to recover, besides that this is also an opportunity to buy BTC when there is a DIP.

No it's not a rumor, and could have been the news that affected the market recently as bitcoin is going down. However, part of the settlement is that they will be paid in cash, and then some in crypto like BTC and Bitcoin Cash.

Although I think that it will have a huge impact to the market, it might be short term though. Or at least investors are not worried about it because as I have said, part of it is in cash and maybe those who are going to received it will still hold the coins and wait for the next bull run because that is the right time if they ever want to sell it.

Because it hasn't happened yet. Once they release the bitcoins to the public soon, FUDs will start spreading (and topics/thread like this). People will start panicking reading those news and articles, they will start selling their bitcoin because they are going to think that "BTC is going to crash heavily" (and will be more convinced when they see threads/posts like yours) and will end up crashing the market. In other words, bitcoin won't crash because of those 2 billion worth of BTC, bitcoin might crash because the FUDs that will be spread. The drop will be temporary and the market will recover rather soon like it has always been.

I think the efforts made by Mt Gox will have a slight negative impact on market price stability, especially for bitcoin prices but we don't need to worry too much about that because I believe the decline will only be temporary, if we are used to being in the crypto market then we should know what to do in that situation later so as not to miss the momentum to buy at a lower price.

There can be a dump, going by obvious reasons, but if it happens will it matter to much to us holders? No. Because we will buy back at low prices and continue to hold. Most of the victims will sell because they have been waiting for a long time to get their hands on this.

But the process has not started yet and hence not a reason at all to panic. In fact we traders should never panic about any upcoming dumps, let them happen like any normal process.

As traders stop giving here to everyday news. You have to learn to be resistant to these and treat the numbers.

With rumors like this, everyone who holds Bitcoin will certainly feel panicked, but I believe 2 billion BTC will not be possible for them to just sell, because he will think that holding BTC will be better than throwing it away. So for all those who hold BTC, don't worry too much about rumors like this, because from the past until now Bitcoin has always been a lot of FUD from various news circulating everywhere but all FUD is not a problem for Bitcoin to stay alive and develop in the future.

For sure those Bitcoin are not forced to sell immediately with the market price once become available.
Even those Bitcoin will be sold to the market, who cares? There are still a lot of people buying Bitcoins these days. There are still buyers.
This could be a FUD also that they are spreading.

Again Mt.Gox is used to fud and causes panic sell on the market.

It is not real reason of this fall because Bitcoin has rallied from $17k to $25k and it must be pulled back. I believe that Bitcoin after this pull back will climb gradually to $27k or $28k and we will get another fall that can be bigger than this one.

Mt.Gox is a very old story and with high trading volume of Bitcoin market nowadays, it does not cause big effect than in the past. Don't panic but I know people will still be panic.

we don't know if it's real or fake, but the most important thing is that we have to be prepared,
if there really is a bitcoin transfer from the whales wallet to an exchange with a very large amount,
yes we must also prepare a strategy if a dump does come, and don't forget to set stop loss in your trade.

It would make bitcoin crash.

However, why would anyone worry about it unless he'll need cash soon? If somebody is going to worry about this then it means he invested more than he could afford to lose.

Bitcoin's price has nothing to do with its functioning too. Bitcoin would function just fine even if the price was $1. Fundamentally, nothing would change if the price drops.

It is fine, really.

I have not heard about this rumor before to be honest. Maybe this rumor was the reason for the pretty sharp price drop a day ago. I think that is definitely possible. I know that 2 Billion of BTC are not that much in terms of percentage of the total supply but the fact alone that 2 Billion $ worth of a single asset will be released (and maybe even sold) at the same time definitely has an impact on the price. I mean 2 Billion $ of selling pressure at once is a lot and probably magnitudes higher than the normal sell pressure of BTC. Of course it is only theoretically possible that those 2 B$ worth of BTC will be sold at the same time but still.

Even if people were to suddenly start mass selling because of it, it doesn't exactly mean that people wouldn't buy it anymore. Heck if the price drops, you can probably expect that more and more people would try to buy in. It might temporarily set back the price but it isn't exactly something that'd affect Bitcoin as a currency, it'd still remain as a currency and can still be used after all. If it happens and you're holding, then just keep on holding it. A minor setback shouldn't influence your decision and ruin your investment. Dumps like this have and will always be a part of the market anyway (at least until the entire supply hasn't been mined).

They have announced that they will release bitcoin in August but the exact date is yet to be revealed, if all are issued in bitcoin and released at the same time will cause the crash of bitcoin and the market.

There is currently no confirmation that all Mt.Gox users will receive all in bitcoin, maybe they will get it back in USD. We still have to wait for the official announcement from Mt.Gox.
https://u.today/mt-gox-provides-important-update-on-repayment-process-what-it-means-for-crypto-market

If those who received the BTC wanted to cash it in by selling it immediately, it could crash BTC and plummet to the lowest price we could ever imagine. But if they keep their BTC on hold and sell it when the price increases again, it won't crash BTC. But even though the price of BTC crashes, it is an advantage for those of us who have fiat because we can buy BTC at the lowest price, which is the best moment to buy BTC. Now it's your decision if you are one of those who will accept the BTC but if you don't accept it, then just prepare your money to buy BTC.

Perhaps because of this news, the market corrected after rallying to almost $25k.
In the event that this is indeed official news, I see Mt.gox's bitcoin release as an opportunity instead of yet another fear that will be felt as people continue to fear it. We don't have much chance of being able to buy bitcoin cheaply, so instead of being afraid when they come, we should take advantage of the opportunity to buy bitcoins at a cheap price.

2 billion is not really going to affect the 500 billion worth market so it will create a small movement in the market and later everything will be back to normal so why we need to worry about 1% when the average volatility range of the market can be 10%.

The repayment by Mt Gox is not a fake news as they already announced about this earlier and the distribution will take place this month or next month. Not sure how many will be selling off their coins when the coins are distributed as the waiting period to get the coins took a long time and i wont be surprised if majority will keep on holding the coins until the next rally. But the speculation of the huge number of coins being released will be more than enough to have a correction in the market  :D.

We have to adopt any situation and it will not affect so much in the market. It is not for permanent and we are going to see a big pump in the early November. If we talk about the buying time, it is a golden opportunity for us to enter the market right now to buy more.

Any bad news circulating in the crypto world will affect Bitcoin price movements, that's why we're seeing Bitcoin down about 14% in a week
right now. Whereas previously Bitcoin had looked positive it would rise above the $25k price, but now the Bitcoin price has dropped to
the $21k price. The decline in the price of Bitcoin also greatly affected the price of altcoins, where now the majority of altcoins have decreased.
But since I've been in the crypto world for a long time, what's happening now is nothing new and doesn't worry me at all. Because I believe
Bitcoin will always recover no matter how deep its price goes down, that's why as you said we really shouldn't worry about the Bitcoin price
dropping, and should take the opportunity to buy Bitcoin in the current situation. I also believe that today's investors are getting smarter,
therefore the correction that occurs may not last long. Because I believe there will be many investors who buy Bitcoin when the price drops
like it is today.

This amount of BTC is not enough to affect BTC because there are billions of buying orders waiting to take it all, even if the whole BTC was dumped at once it won't have a bad impact, its all good 👍 .

Why would you worry over something you have no control of? What exactly is being worried can do to stop or prevent the recipients of these btc not to sell if they choose to? Nothing. So if this ever happens,  the market may experience a dip and recover as always. Mt Gox or not, btc will always surpass previous ath at the right time.

I guess we've seen the crash already and aside from this, there's an additional impact from what the SEC is about to do with Tether and Bitfinex. So, again, we're in a speculative mode as usual with such news that brings motion to the market. Well, you don't have to be worried on this one, just get some of those cheap bitcoins then when they dump. Because the usual is it will recover no matter what happens, the crash that will come to the market will recover gradually until we see some huge sudden movements again.

Nothing, except to buy when Bitcoin price crash due to possible sudden pressure to demand that may pull the price of bitcoin.  Aside from that, I wouldn't have a say if Mt; Gox started dispensing the 2B worth of BTC, I think it won't crash the price of Bitcoin, it will just affect the bitcoin market for just a short period of time.

I also heard this last month, they announced that they will release bitcoin later this month but no specific date, only 10 days to the end of August, I don't think they will release this month, maybe they will last until September.

The total bitcoin capitalization reached 400 billion and the number that Mt.Gox gave is about 2 billion, it can be seen that it is only a very small number compared to the total bitcoin capitalization today. Short-term price impact is inevitable, perhaps yesterday's correction could also be attributed to this news. After all, there is nothing to worry about, bitcoin price is down but bitcoin will recover soon as always.

Are they planning to take profit or cut their losses?
Probably they are doing this with a plan and they know that there’s a significant effect for this so probably they will not sell it in just a short time. They are one of the top supporter of Bitcoin though we can’t really stop them from doing anything with their holdings so let’s just wait and see. Whales can really manipulate the market, this is the bad side of having more whales, though of course we can also take advantage of this let’s just know how to ride with the whales.

You should have linked to any article about your thread so people can get the fact of it here is a link to one article about Mt Gox plans to release very soon to the public

Will the release of $3B Bitcoin from Mt Gox cause market bottom in August? (https://cryptoslate.com/will-release-of-3b-bitcoin-from-mt-gox-cause-market-bottom-in-august/)

the author has a question mark on the headline of his article and we are nearing the end of August so it could not be in August possibly in other months


If the majority of the community absorbs the huge sell-off it will not have an impact, there's a possibility of the price going down but we have to see that when it happens, for now, it's in the speculation stage.

Everything in crypto is possible. Either they will sell them all at once or they will prefer hodling, there are always inevitable events in the market that create a huge negative impact and leave the market dumping. However, we should not panic in all these events as these things are not new here. Bitcoin has always a strong foundation, so whatever attacks that it may encounter, it will surely find its own way to survive and continue to stand firm. That is why there is no room for worrying, as it may lead to depression when things seem to be uncontrolled anymore.

We don't have to worry about bear market events because any upside impact will decrease eventually because the market is forming a defensive position for a certain price before the recovery process higher and of course the next bull market, so no need to worry if you hold bitcoin or top altcoins in your portfolio.

Mt Gox, FUds, etc... People are still sure that whatever it happens Bitcoin remains valuable. If there is a crash, people are happy to accumulate more Bitcoin. That is not worth worrying OP, In fact, we are still aware of the up and down situation and making these FUDs a contributing factor affecting the market trend.

Well, If that is true then let it be, we actually wanted to see what really happens during that time. I was excited about it, though. And so this Mt GOx issue will finally be forgotten.

People should not worry about something so small, if you do not know how much money moves daily in bitcoin that amount of money may seem to be very high, but when you see the volume of bitcoin and how many coins move each day you realize that the amount of coins that could be sold is nowhere near enough to make the market crash, at best we could see a small reduction in the price but that will be it, and in the case that we actually saw a crash it will have way more to do with people panicking due to the misinformation that they read rather than the amount of coins being sold.

I don't know if it's related, but maybe there is another reason that caused the bitcoin price to undergo a massive correction. If bitcoin giving is true, people shouldn't be in a rush to sell their bitcoins and just wait for the price to rise again before they sell it. That way, they will get a big profit because they get bitcoin and can sell it at the highest price.

If people want to buy bitcoin, they can now do so because the price of bitcoin is still holding it's low and while there is still a chance the price will drop lower, that is another opportunity to buy bitcoin.

I don't think so. don't you see how tesla was selling no more than 1 billion? it's enough to drive market to be panic sell. you can't compare it with marketcap but the correct thing is if you are using daily trade volume of bitcoin compared with how many bitcoins that will be dumped to the market. I think that you are wrong in this case. Marketcap means nothing but the daily voluem trade is.

It was said that they are going to give options to users who would claim thier BTC to withdraw stablecoin or BTC. If they anticipate BTC to take a dive, they may try to withdraw stablecoins instead.

But I'm only seeing this distribution to be a rumor. What could be the reason for them to distribute the coins NOW? They could just keep it forever actually.

The question is will everything be sold? most people know that it won't sell out at all. Then most people also know that only speculation and opinion can be discussed here in the forum. Because every opinion we say here is purely subjective not objective. That's the real fact here, yes someone will sell but I doubt that all of them will be sold. Apart from that, I'm not worried or panicking because for me the market price crash is normal in the crypto industry that we belong to.

Have been long time discussing about Mt Gox exchange market refund Bitcoin assets to their all member, but still not have exact date when refund distribution for their member. Have any issues about refund use Bitcoin and have drastically increase values with first cases happened, all member will sell their bitcoin assets if refund but I just asking when refund will sent to member of Mt Gox exchange. Long time issues on this month will sending but almost third of August weeks still not any confirmed for sending. I think not have to worry about Mt Gox refund bitcoin assets and they looks still make new drama for all their member with keep hidden when refund Bitcoin sending.

If this really happens, then I feel there will be 3 possibilities

1. the possibility of bitcoin price will be fine, because it will only be distributed, not sold en masse. however, this may have a low probability of happening.
2. Next is, the price of bitcoin will dump, but not too far away. consider that some of them hold their assets, and some of them sell.
3. the dump price is very severe. this happens because these people have benefited a lot. considering that this is tantamount to them holding bitcoins from the moment they entered Mt Gox, and this is the greatest possibility.

We have to be prepared for what happens. however, I just hope, if this is true, they will still keep the assets they own. However, this led to the FUD being quite popular and causing some people to rush into selling their assets.

The news of Mt Gox may have some effect on the current market but it is temporary. I personally not worried about it. Suppose the matter is true, but what is the problem? We all know the current circulating supply of BTC is 19,127,550, nothing new is being added here. So there is nothing to worry. Most crypto investors expect the market will recover shortly.

It is true that no matter how bad the news is it will not be able to cause bitcoin to drop forever, bitcoin will fall, and it will rise again. There is nothing to panic about with this situation.
The price of bitcoin dropped from $69k to $17k and we have nothing to fear, so there's no reason why we should panic when bitcoin dropped from $25k to $21k. The lower the price, the more opportunities to accumulate, if you want to make a profit, you should buy it now.

You are late with this already. We have a couple of threads like this last time and the op of those threads and the people that reply on it are all worried because they think it will make the price dumped harder. It wasn't just a rumor or a type of FUD because I can see that they have sources about the news. You are asking if what we are going to do about it?

Well, if you are one of those who will get a btc, then you better hodl it and don't sell if you don't want to add up to the potential seller. If not then all you can do is to calm down as panicking will only make you do unwanted things such as panic selling. This soon shall pass don't worry.

Investors have seen the potential of Bitcoin many new investors have hoped that they can buy Bitcoin at a cheaper price than when they first bought it, if ever they will release it and the holders of those Bitcoin sell it, there's buying pressure from old and new investors the market can absorb it because there's demand and there will be more demand in the future, I don't see Bitcoin going down to $5000 buyers will be lucky to have it at $10k.

It is anyway grad difficult times... what surprises me is that Bitcoin has lost sooo much value and inflation has also worked rather badly - although it was said that crypto would be good with inflation... or what do you think?

I still believe it will happen, but the big whale is waiting for the moment where it is ready to increase, actually from last year it will have touched the price of 1 billion, but it looks like something is holding it back, and it is very visible, that the news can also considered the truth..

Maybe the drop will occur but I haven't thought this will take so long to recover. It can be easy to lift up as the buying demand will increase due to massive massive buying volume.  That is not worrying and never I think people will do panic selling but instead of buying more as the price is cheap.
Well, I think I need to prepare some backup reserved if this will happen.

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I think OP you have to control your emotions and stop worrying about the market instead, you are going to be happy for that.

Opens all the senses really after looking at the circulation of bitcoin and its fiat value that’s traded every single day! Definitely this won’t have any effect on the bitcoin however there will be effect of “FUD”, “FOMO” kinda things and nothing else.

However, there is another theory by various sources and some are saying it was planned dumping to cause the flipping of bitcoin and ethereum. In this case ETH would go up by 30% etc. This event is to overcome BTC by ETH.


Definitely it’s something on top of just selling mt Gox funds and liquidation of over 2.8 billion plus in dollars.


Reference: Will release of $3B Bitcoin from Mt Gox cause market bottom in August? (https://cryptoslate.com/will-release-of-3b-bitcoin-from-mt-gox-cause-market-bottom-in-august/?amp=1)

It will surely have a huge impact on the price of Bitcoin. A dump is possible but I don't think it's a reason enough for us to feel worried. We all know the capability of Bitcoin to resist events and occurrence like this. Bitcoin is strong enough to resist the possible dump and would definitely recover and rise up again.

despite of the situation? I think that's impossible to happen because its a big lose from those who already bought and waiting for the market to become fine.. Imagine how the situation will gonna looks like and the reaction of some big investors if that rumours happen without knowing?.. That's scary and a crazy idea. And tbh ever since before i never seen someone dumped a huge amount of bitcoin despite of the current situation because such situation is the right time ti accumulate not to sell.

There are many waiting for buying opportunities and many will end up losing the chance they seek because its never coming, I am waiting for 10k per BTC so if those BTC got sold into the market I am 100% sure that it will be sucked up in just hours, it won't be noticeable.

People think that 2 billion dollars worth of bitcoin would be all sent at the same time and all cashed out at the same time. What you need to realize is that we have billions of dollars worth of trading volume per day, so hundreds of millions of dollars gets sold all the time and that’s fine, meaning if we have just a situation where it's sold hundreds of millions of dollars, then it won't really crash it a lot.

I am not saying it won't go down, it could, but not as much as you think it would and that’s the point. I personally believe that the best thing to do would be making sure that we have some cash to buy more bitcoins if the price goes down too much.

I think they learned their lesson in 2017. They will likely sell to "accredited investors" through the OTC market.

I don't think the price would bump like that. And i don't think the whole bitcoin would be released en-bloc like that. I think it would be paid out in percentages or aliquots. That way there would be price protection of bitcoin. Besides its a small percentage of the total bitcoin supply, so the liquidity would take care of that

I've seen on the telegram channel about MTGox, and the analysis he did could be right,
that every dump that occurs in bitcoin is due to bad news such as inflation, Covid, and maybe even MTGox,
I don't know, for sure there I saw him analyzing the dump to the the price of $10k, it's terrible,
but we also have to be prepared if it happens.

I don't think it will be as big a factor as Bitcoin crashing. Yes it may have some impact but it will be temporary I think. Last week Bitcoin saw a bit of a pump, but now it has dumped again.  I think the main reason behind this is China wanting to push Bitcoin away again. And there are a lot of rumors about Bitcoin so I don't think we need to worry too much about it.

We don't need to worry about FUD that have been shared by anyone even including countries that want to lower the price of Bitcoin, so far Bitcoin has missed various FUD from various side attacks but none of them have been able to bring down the price of Bitcoin with the lowest price, we just need time to recover and wait for future bullruns.

I guess there is absolutely nobody that ignored the current situation anyway, hence the price fall. I mean think about it, as soon as this news hit, we have seen the situation and that is the greatest thing ever. I know that not everyone thinks this way, but we have definitely seen the crash right afterwards so I do not think that its unrelated, it would be impossible for it to be unrelated. Whenever bitcoin starts to go up just a bit, there are news from all around the news and all from different reason that ends up crashing it. Which is why I have %100 trust that there are a lot of people who loves to see it fall.

You are right, many parties to the bitcoin price crash and want to lower it to the lowest point, because they want to buy it at that price and they are also hidden investors, their job is only to panic investors to emphasize the lowest bitcoin price, so don't respond to bad news and more not see news if when bitcion price crashes.

If their prediction of $10k will happen, for sure a lot of investors are waiting for such dump.
But I don't think we will go down to that price level again. That's possible but for me, the likelihood to happen is low.
In any case, one should be prepared if such situation happens. You can take advantage of this opportunity.
But for now, observe the market movement, and assess where will this market possibly go after few months or couple of years from now.

We should not panic because if the price of bitcoin drops again and even deeper than before, we are still allowed to buy bitcoin, which is the profit we should use. Once bitcoin drops lower than before and hits bottom, the price will go back up but sometimes it won't happen in a short time. And this is where our patience is tested because we must be able to hold bitcoin and not release it at a low price. But unfortunately, not everyone who can have more patience can keep their bitcoins.

Those who own it will receive it, we don't have a clue what they will do with it but I bet a large percentage will not be sold after they witness how far BTC go when it reached its ATH.
If I am one of those receivers I would definitely keep it. Sure we will feel the decline in Bitcoin price but I doubt it will go as far as 4 digits again.
The resistance to $20k is strong and the only thing I am worried about is if whales will take this new opportunity to sell out before the distribution of the said funds. It will cause a big damage although I doubt it will be long.

It will depend on what will the receivers do after receiving their Bitcoins.
Will all of them sell it? If yes then it will cause a bit of a downward movement which is a perfect opportunity for the accumulators of Bitcoin since they will buy at a lower price.
Will most of them hold it? If yes then there isn't anything to worry about I think.

Overall, you will only worry if you bought Bitcoin at a high price, but if you are a Bitcoin buyer, you see these events as opportunities to buy at a lower price :). I don't know how much Bitcoin will fall if all of them or most of them will sell it, but that will be an opportunity. Nothing to worry about.

And that is assuming all of those coins were sold at the same time, something that is not very likely at all as there are many people that would prefer to keep their coins, after all even if they had to wait a lot of time to recover their coins the value of bitcoin is much higher since the time that MtGox collapsed, so I doubt everyone will be interested in selling immediately, so I do not see why people should be worried about something so small when the demand is more than enough to absorb all of those coins.

People minds and panic selling make bitcoin price crashing not depending with refund from Mt Gox exchange market, exactly they will not refund with all fund but will refund by instalment. But many investor faced panic moment when seeing announcement about bitcoin refund from Mt  Gox exchange market. Probably still have another reason why bitcoin crashing without refund problem, right now China still make bad news with bitcoin and difficult to see bitcoin reach to higher price drastically, last day bitcoin have little raise up price but right now back to lower price. Still not have significiant of bitcoin pump drastically.

Different investors now have unequal financial opportunities and for many of them to get 3000% of what was invested seems to be a huge profit. So it is obvious that a certain part of BTC will be sold, while the other part will still be held, possibly until the next ATH.

I will follow up more on my actions when it really crashes because of the cause of this news (if true), then I will start buying BTC gradually. Of course this is a good opportunity to add or start a bitcoin stock. As we know that BTC is used to fluctuating prices, it's just up to us how to take advantage of the situation.

Panic sell will drag the value down, it would have been perfect if no one knew about this and MGTOX release the supply of BTC to the public, there are whales waiting to buy every dip so its nothing to raise a voice about.