QCP Capital said concerns about a large number of BTC sales following distribution on the Mt. Gox exchange could fuel the bearish sentiment. Mt. Gox will begin distributing client assets stolen in the 2014 hack in July 2024. The previous deadline has been delayed for several years. The payment will be in the form of bitcoin and bitcoin cash, which could put selling pressure on both markets.
However, the long-term bullish outlook for some traders remains intact, with the price expected to rise to $150,000 after the Mt. Gox allocation is completed. Tom Lee, head of research at Fundstrat Global Advisors, said one of the biggest suspense will fade in July, which I think is one reason to expect a sharp rebound in the second half.
Analyst: BTC is expected to rise to $150,000 after Mt. Gox distribution is completed
2024-07-03 07:56:49
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