Mount Gox and the US govt. could introduce additional selling pressure worth about $15 billion!

We don't see much movement in Bitcoin price in the crypto market lately. For quite a long time, the price of Bitcoin has been hovering around 58 thousand to 65 thousand dollars. If we look at the past Bitcoin monthly charts we can see that every year Bitcoin price has reached the red mark in the negative in September. The same statistics are again telling that this year too, the price of Bitcoin may decrease from September onwards and the slow pace of Bitcoin may continue in September as well. In addition, a new reason behind it now is that Mount Gox and the United States government may introduce additional selling pressure of about $15 billion.

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If Mt Gox and the US introduce this amount of value into the Bitcoin market we could soon see the price of Bitcoin flood the market. And if this is indeed the case, we will soon see the market put more downward pressure on the price of Bitcoin. Moreover, another important thing we can say is that we know the United States election in November. It is expected that this will also affect the market if Trump is elected as President, it will be good for the digital currency market.

However, the US government currently holds 203,000 bitcoins worth $12.1 billion. Also another issue is Japan's defunct crypto exchange Mt. Gox also has bitcoin ready to distribute another 46,000 bitcoins worth about $2.7 billion. As we have seen in the past days when Mt Box provided Bitcoin to their customers it had quite an impact on the market and the price of Bitcoin dropped a lot. Also the sale of Bitcoin by the US and Germany had a negative impact on the market.

But an important point here is that the Bitcoin volume of Mount Gox has decreased as before. As a result, selling it individually or paying their original customers with Bitcoin is unlikely to cause structural problems that could affect the broader market, causing oversold pressure on the price of Bitcoin. It's a defunct Japanese crypto exchange whose creditors have been waiting for $9.4 billion worth of bitcoins for the past 10 years. But the interesting thing is that the name that was 10 years ago is now worth more than 8,500%.

So it is natural to say that customers have been waiting for their money for 10 years and if they get that money many investors will probably look at selling. But another important point here is that despite such a huge price increase, the creditors of Mount Gox did not sell. Mt. Gox creditors received nearly $4 billion worth of BTC at the end of July, accounting for 41.5% of payments owed to users.

However, such news cannot be ruled out at present. Such news enters the market only when the market tries to go up a bit. However, Bitcoin transfers or sales by Mount Gox or the United States are not new. Moreover, since tomorrow is September and past statistics suggest that September could be a good month for Bitcoin. So in these times we need awareness and patience in these times.