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Will release of $3B Bitcoin from Mt Gox cause market bottom in August?

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by COINS NEWS 78 Views

most aren't up 100x though.

First off even measured on BTC price alone, the max price of ~1200, we are "only" looking at a ~17x.

On top of that MtGox still lost like 80% of all their bitcoins, so the MtGox people are expected to get something like 15-17% of the BTC they bought back. I did a quick back of envelope calculation and the lower limit on the actual gains made in USD would be ~200% increase on their initial investment (assuming they bought at the top).

Obviously still a great return on investment, but not life changing money for most i'd imagine.


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