Just In: Mt Gox Payouts Delayed; Bitcoin Price To Resume Recovery?

Bitcoin News: Bitcoin, the world’s largest crypto’s price is on a constant decline as the digital asset market is under heavy turbulence. Crypto investors have looked hesitant to indulge in the trade keeping future events in sight. As a such event, Mt Gox Bitcoin Payout has been hounding the crypto market.

Mt Gox Bitcoin Pay Out Postponed

As per reports, a probable black swan event, Mt Gox Bitcoin pay out has been delayed for now. The Mt Gox creditors were set to receive almost 138K Bitcoins as an “early repayment” scheduled on March 10. The total worth of the Bitcoins to be distributed among the creditor was calculated to be around $3 billion.

According to the rehabilitation letter issued by Mt Gox stated that the trustee has decided to change the deadline for the payout to April 6, 2023. It mentioned that the court has granted the Trustees to postpone the repayment deadline.

It added that the early lump sum repayment deadline and intermediate repayment deadline were scheduled to be from October 31 to September end. Meanwhile, the new order will allow the trustee to repay creditors between April 6 to October 30, 2023. Read More Bitcoin News Here…

Crypto Market Losses $1 Tln Mark

Bitcoin price has dropped by more than 7% in the last 7 days over the speculation of the Mt Gox Bitcoin release. Bitcoin is trading at an average price of $21,650, at the press time. As per speculations, the Mt Gox payout would have triggered a massive sell off in the crypto market.

Bitcoin 24 hour trading volume has declined by 10% to stand at $21.77 billion. However, BTC has registered a liquidation of around $25 million in the last 24 hours.

However, the global crypto market cap has again lost its vital $1 trillion mark. The cumulative market cap dropped by 1.5% over the past day. While the 24 hour trading volume has dropped by 6% to stand at $44 billion.

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Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]