I wouldn’t say it’s a tiny fraction of BTC being distributed either. It’s nearly 20%, which is an insane amount of money still.
As fiat, yes, it's a huge amount of money. As bitcoin... 20% is not that great (still a loss).
Of course, since the vast majority of those receiving this money would have been spending or losing it by now, it's great for them. But, on the 1
BTC=1
BTC math, it's a small fraction. Not tiny, though, you're right on that.
I’m currently a believer that the BTC will be distributed next year, and once it has been distributed the final hurdle will be removed for the next bull run.
Yep, that's what I also expect: sometime after the crypto winter. Ideal would be the bull run, but I can't expect them to stall it for so long. Next year sounds about right.
Perhaps when the news surface again, we might see the same FUD in November/December. Specially if during that time the price goes on another nose-dived and hit lower lows. And so there could still be manipulation from behind using the old and recycle Mt Gox coins.
That would be unsurprising. As long as that money is not (completely!) distributed, some will use that as a scarecrow in uncertain times.