Analyst: BTC expected to rise to $150,000 after Mt.Gox distribution is completed

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Cointime2024/07/03 08:07

By:Cointime

QCP Capital stated that concerns over the massive sale of BTC caused by the distribution of Mt.Gox exchange could exacerbate bearish sentiment. Mt.Gox will begin distributing customer assets stolen in the 2014 hack in July 2024. The previous deadline has been postponed for several years. The payment will be made in the form of Bitcoin and Bitcoin Cash, which may bring selling pressure to these two markets. However, some traders still have a bullish long-term outlook, and it is expected that the price will rise to $150,000 after the completion of Mt.Gox distribution. Tom Lee, head of research at Fundstrat Global Advisors, said that one of the biggest uncertainties will disappear in July, and I think this is one of the reasons for the expected significant rebound in the second half of the year.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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