Analysts: Selling pressure from Mt. Gox bankruptcy redemption could be bearish for BCH
The head of research at Presto Labs wrote in a note that fears that selling pressure from the Mt. Gox bankruptcy redemption will push the price of BTC down are unfounded, but this could be a bearish scenario for BCH. In addition to the former exchange that will return about $9.50 billion in BTC to customers, Mt. Gox will also return 143,000 BCH, worth about $73 million. Data shows that the daily trading volume of Bitcoin Cash is $308.80 million, and the value of this redemption is about 24% of this figure.