Bitcoin Crash Alert! The compensation for the Mentougou incident is delayed, and the settlement of 140,000 BTC may trigger a bloody market plunge

Do you still remember the hacker attack on the Mt. Gox Bitcoin exchange that shocked the world? Yes, this heartbreaking incident seems to be happening again! After 10 years, Mt. Gox has finally entered the compensation stage, which may have a huge impact on the Bitcoin market.

To review, in 2014, Mt. Gox, the world's largest Bitcoin exchange at the time, suffered a hacker attack, resulting in the theft of 850,000 Bitcoins with a total value of approximately US$460 million. This caused many investors to suffer heavy losses overnight, and Mt. Gox eventually filed for bankruptcy. Now, after many delays in liquidation and lawsuits, the compensation plan is finally moving forward, with the first batch of repayments expected by the end of this year.

However, the price of Bitcoin has soared more than ten times in the past 10 years, and the market is currently near historical highs. It is expected that once a total of more than 140,000 Bitcoins are returned to investors, it may cause severe selling pressure on the market. This triggered a massive sell-off in Bitcoin, which in turn led to a bloody market plunge.

Although the amount of compensation awarded to Mt. Gox creditors is far from their losses, the value of Bitcoin has continued to rise over the years, which means that creditors will receive a large and unexpected income. However, once these Bitcoins enter the market, the situation may be completely different.

Mt. Gox’s liquidation trustee said they expect to pay creditors 142,000 Bitcoin, 143,000 Bitcoin Cash, and 69 billion yen (approximately $510 million) by the end of this year. This would be a huge number, enough to cause panic and turmoil in the market.

For those investors who have experienced the Mt. Gox incident, this news will undoubtedly leave them with lingering fears. They once lost all their Bitcoin overnight, and now they may see a collapse in the price of Bitcoin in the market, which will undoubtedly reignite their fears and anxieties.

At present, we cannot determine the specific market reaction, but the alarm has been sounded. The liquidation of 140,000 Bitcoins may trigger violent market fluctuations. For investors, this is a situation that requires close attention.

I hope everyone can stay calm and treat market changes rationally. As an investment asset, Bitcoin's price fluctuations are inevitable, and the payout from the Mt. Gox incident may bring temporary market turmoil. Remember, as with any investment, prudence and rationality are the most important principles.
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