The price of Bitcoin will mechanically collapse in January 2023!

The distribution of funds to former users of the defunct crypto-currency exchange Mt. Gox is expected to begin in 2023 after the designated debtor shares the final terms of repayment.

Indeed, customers are expected to receive about $1.7 billion in cash, 141,000 Bitcoins (BTC) and 142,000 Bitcoin Cash (BCH) starting in January of next year, targeting about 10,000 customers worldwide, the designated debtor said in an Oct. 6 note.

Prior to repayment, creditors will be required to select a payment method on the MTGOX online rehabilitation filing system. At the same time, the debtor has set a deadline of Jan. 10, 2023, to submit the necessary information.

Creditors will have to choose between four main repayment options, including lump sum prepayments, repayment of a portion of the digital assets of the rehabilitation applications in crypto-currencies, repayment by bank remittance, and repayment by remittance through a money transfer service provider. However, all creditors will receive an initial base payment.

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The debtor’s schedule comes barely a month after Nobuaki Kobayashi, administrator of Mt. Gox, said the refund would be made “in due course” after an initial postponement.

It’s worth noting that payment has been the focus of growing conversations in crypto-currency circles. The impact of payment on the price action of the assets involved was interesting, as it could lead to significant market fluctuations.

In this case, it was assumed that in the context of the current volatility of bitcoin, Mt. Gox investors would choose to sell Bitcoinwhich would lead to more market turbulence.

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However, this speculation was dispelled after the debtor offered different payment methods. In addition, the process is expected to take several months, which eliminates the possibility of triggering volatility.

Interestingly, part of the market believes that creditors will not sell their bitcoins instantly. Most of them are probably early adopters of bitcoin and may hold the asset until the recovery before selling.

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