İş Investment International Capital Markets Manager Şant Manukyan shared his latest thoughts on the Bitcoin (BTC) market in his post on Twitter. He also talked about the developments that could affect BTC in this process. Here are the details…
Shant Manukyan drew attention to these developments for Bitcoin
Famous name Shant Manukyan recently shared his comments on Bitcoin. He shared Bloomberg’s news about Anthony Scaramucci’s suspension of Skybridge Capital funding. Anthony Scaramucci’s Skybridge Capital has suspended redemptions on one of its funds after sharp declines in stocks and cryptocurrencies. One of the people said that the Legion Strategies fund is suspending redemptions. That’s because private companies, which are more difficult to sell, now make up about 20 percent of the portfolio, he said. The fund is one of Skybridge’s smaller offerings and uses most of its roughly $230 million in assets to hedge fund managers. Apart from that, Shant Manukyan used the following expressions:
Onchain göstergelerin (MVRV, Puell, Hash Ribbon etc) BTC'de dibe işaret ettiğini daha önce tartışmıştık. https://t.co/3ja13nKM0w gibi haberlerin de artık etkisiz olması olumlu bir durum. Geriye görünürde 2 risk kalıyor. Biri madenci satışları ikincisi ise Mt. Gox korkusu.
— Şant Manukyan (@SantManukyan) July 19, 2022
The expert name, miner sales and Mt. Gox stated that the issue carries a risk for BTC. Other than that, a price of $ 22,500 would be positive, Manukyan said, adding that a consensus and clarity should be seen in the market.
Mt. What’s the latest on the Gox case?
After surviving a brutal first half and breaking above $20,000, Bitcoin is now facing a new test. Last week, Mt. According to the letter sent to Gox creditors, the rehabilitation trustees ignited fears of a brutal sell-off, implying that the repayment of approximately 142,000 BTC will begin as early as next month. “The Rehabilitation Trustees are currently preparing to reimburse according to the approved rehabilitation plan, with the Tokyo District Court’s approval decision made final and binding on November 16, 2021,” the letter said.
Creditors must register online and choose their preferred method of compensation, including whether they want to be compensated in USD, BTC or BCH. Mr. Nobuaki Kobayashi, the Court-appointed Rehabilitation Trustee, also said, “To ensure safe and secure repayments, from about the end of August this year until all or some of the repayments made as initial repayments are completed.”
After the latest correspondence, refunds can begin at the end of August to ensure full compensation before the end of the year. This is Mt. Gox creditors, some crypto investors are now worried that this could trigger a bloody sell-off for BTC, further exacerbating the already bleak situation. As we have also reported as Kriptokoin.com, Mt. Gox rehabilitation plan was approved in 2018 before being approved in October 2021. Of the 850 thousand BTC lost in the 2014 hack, the exchange stated that it has regained 200 thousand BTC. However, some BTC was sold in 2018, including a stash of 24,658 BTC, and the balance sheet stash totaled approximately 142,000 BTC ($3.3 billion).
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