Mass payments to creditors Mt. Gox can create a shortage of demand and cause further drop in the market, believes a former client of the exchange, trader Kim Nilssen (Nilssen Kim). He said this yesterday in comments to The Telegraph.
According to Nilssen, the assets to be return — only about 160 000 BTC and BCH, will lead to an influx of sell orders on the exchanges, but given the amount of money they offer significantly exceeds demand. The trader believes that this situation “will exacerbate last year’s price collapse”.
Nilssen, however, admits that some creditors will certainly sell bitcoins immediately after receipt of the payment, therefore, the elimination of all volume in a short period can be avoided:
“Perhaps some will try to sell the bitcoin immediately upon receipt, but most likely, it will not be 100%”.
At the same time, a mini-investigation of a redditor under the name “sick_silk” helped to identify cold wallet of Mt. Gox, which kept 111 114 BTC/BCH. Purse remain inactive for more than four years; however, in late August, the owner of the wallet started to transfer 100 BTC/BCH “secondary” addresses.
Originally sick_silk assumed that the wallet belongs to a defunct underground marketplace Silk Road, however, the company’s specialists in cyber security WizSec involved in finding clients stolen from Mt. Gox funds, confirmed its relationship with the exchange.
The recent reactivation of the purse sick_silk and other users in the thread about the investigation on Reddit associate with the start of a procedure of civil rehabilitation funds. The decision to adopt this procedure instead of liquidation was adopted by the district court of Tokyo on June 22. The replacement for civil rehabilitation was applied not only to the creditors of Mt. Gox, but the CEO of the bankrupt exchange, mark Karpeles (Mark Karpeles).