Bitcoin’s Mt Gox Dump Incoming And Floki Inu Investigated In Several EU Countries

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Last Updated on 23 November 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Bitcoin’s price keeps hovering around $58k for a few days now, and what we’ve pointed out already last week (on 18 November to be exact), has now also siphoned into market knowledge.

In an interview with Cointelegraph, David Lifchitz, managing partner and chief investment officer at ExoAlpha, admitted that the possible dump of Bitcoins by the Mt Gox agreement could upset the price of the world’s biggest cryptocurrency in the days to come.

Luckily David also claimed that as soon as this hurdle was taken, it would be clear skies ahead.

He stated:

Mt.Gox is a Damocles sword above the market’s head, and I don’t see BTC going to $100,000 next month with that threat hanging. Whales have been holding tight, but haven’t bought much more. I guess they are well aware of the Mt.Gox upcoming drama and are waiting to load up on the potential upcoming huge dip. Now once the Mt.Gox hurdle will be cleared, Bitcoin will have a clear path to reach new highs, barring some crazy regulations that could spoil the party.

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Floki Inu under investigation

Meanwhile in memecoins there is an ever larger race to become the next Dogecoin. However, one of them might have taken it a step too far.

After the UK’s regulatory authorities announced an investigation into Floki Inu’s aggressive marketing campaign last week already, now Ireland advertising watchdog is following suit as well.

As per reporting in The Times:

The Irish Advertising Standards Authority for Ireland said that it was “aware of concerns about consumer knowledge of cryptocurrencies”. It pointed to advertising rules that require marketing communications for financial services and products to make it clear that investments can fall as well as rise in value.