Analyst: The trend of BTC will further deteriorate in the next few days, a market reversal requires the occurrence of an 'upswing catalyst' event

Market analyst Josh Gilbert said in an interview with Cointelegraph that most of the sell-off can be attributed to concerns about the repayment of Mt. Gox creditors, and this month there will be about $8 billion worth of BTC flowing into the market. The price trend of Bitcoin is expected to worsen in the next few days. Currently, bearish news far outweighs bullish ones, and selling activities are clearly making investors uneasy, which often triggers more sell-offs. Prices will be weak in the short term until a catalyst emerges to push prices up, which may come in forms such as investors "buying on dips" or ETH ETF getting approved to improve market sentiment.