Mt.Gox Bitcoins Will Be Released On The Day That Ethereum Merges

Bitcoin – The market’s relative calm at the end of August and the beginning of September will only last for a short while since at least two significant events are about to occur: the Merge update on Ethereum and the release of $3 billion worth of Mt.Gox Bitcoins.

Richard Heart’s material on the Prohibition of Assignment indicates that the “release date” for Bitcoins is scheduled for September 15, which is close to the day the Ethereum Merge update would go live.

Later, Richard Heart clarified that the date does not necessarily imply that the market will experience an increase in selling pressure on the date of the publication. It appears to be the day on which internal transfers of the credit stop being possible.

As investors would probably sell their assets to prevent losses when the significant volume hits the market, the true notice of release would, as expected, result in a giant red candle on the market.

Bitcoin exchange will handle its own finances

The sudden injection of $3 billion in selling volume shouldn’t concern the market because it is unclear when the enormous Bitcoin exchange will handle its own finances. The Merge upgrade would be the sole potential cause of exceptionally high volatility in September.

No one anticipates a swift market movement that would fundamentally alter the market’s current structure, as seen by trading volume and midterm investors’ actions. The FOMC meeting that will be held on September 21 is another potential cause.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

CoinCu News