Starting in July, Mt Gox began making payouts, leading many analysts to view this as a potential threat to Bitcoin, believing that traders will immediately sell the cryptocurrency they receive.
However, Presto Labs believes that Bitcoin is not at risk, and any pressure is more likely to impact its “younger brother,” Bitcoin Cash.
Former users of the exchange will receive 143,000 BCH (approximately $73 million).
Most former Mt Gox clients prefer to hold Bitcoin, so its sale is likely to be limited.
According to Presto Labs, the pressure will likely affect Bitcoin Cash, which they see as an asset suitable for immediate sale upon receipt.
Demand for Bitcoin Cash remains weak, and its price is below $360. It is unlikely that investors will hold it in their wallets.
