In a recent article, Singapore-based cryptocurrency investment firm QCP Capital stated that the price of Bitcoin has experienced a significant drop, reaching a low point of $60,500, after the trustee of Mt. Gox announced the commencement of distribution in early July. Despite multiple deadline extensions over the years, the Mt. Gox trustee had already transferred over 140,000 Bitcoins (worth $9 billion) earlier this year in preparation for debt repayment. Meanwhile, QCP Capital also observed limited activity in the July options market, suggesting that the market did not anticipate the distribution to result in significant volatility.
