No one anticipates a swift market movement that would fundamentally alter the market’s current structure, as seen by trading volume and midterm investors’ actions. However, is it a coincidence that Mt.Gox Bitcoins will be released on Ethereum merge date?
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The market’s tranquillity at the end of August and start of September will be brief, as at least two big events that could trigger volatility surges occur in the space: the Merge upgrade on Ethereum and the release of Mt.Gox Bitcoins worth roughly $3 billion.
According to Richard Heart’s material on the Prohibition of Assignment, Bitcoin’s “release date” is slated for September 15, which is around the time when the Ethereum Merge update will go online.
Later, Richard Heart clarified that the date does not necessarily imply that the market will experience a rise in selling pressure on the release date. It appears to be a date on which internal credit transfers become unavailable.
The true notice of release, as expected, would produce a giant red candle on the market as investors would most likely liquidate their holdings to prevent losses when the massive volume enters the market.
The market should not be concerned about the unexpected injection of $3 billion in selling volume because it is unclear when the enormous Bitcoin exchange will manage its own assets. The Merge upgrade would be the only thing that may cause unusually high volatility in September.
No one anticipates a swift market movement that would fundamentally alter the market’s current structure, as seen by trading volume and midterm investors’ actions. The FOMC meeting that will be held on September 21 is another potential cause.
At the time of writing, Ethereum and Bitcoin were trading at local lows of $1,550 and $19,900, respectively. Both assets have less than 1% volatility in the last 24 hours.
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