Mt. Gox Cold Wallet Transfer Sparks Market Concerns

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Author: Nidhi Kolhapur Nidhi Kolhapur

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Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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The Mt. Gox issue is not over yet as today, 42,587 BTC worth $2.85 billion was transferred from the Mt. Gox cold wallet. Of these, approximately 37,000 will be repaid to repay creditors. There have been several Mt. Gox repayment issues recently, but the market has handled them easily. As a result, the price temporarily fell and is currently hovering around $66.7K. This price range is very close to the average purchase price of $66.5k for 1-3 month BTC holders. If that support breaks down, the average purchase price range of 3-6 month holders should be watched at $63.6k.

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