Bitcoin Price Prediction
Bitcoin price recently surpassed $63,000, showing a slight rebound from previous losses, despite a prevailing negative sentiment toward cryptocurrencies. Most of the support in Bitcoin came amid the weakening U.S. dollar, which dipped about 0.2% on Monday.
However, the markets are cautious, especially with the impending major payout event involving the defunct exchange Mt Gox. Starting in early July, Mt Gox will begin distributing Bitcoin stolen in a 2014 hack.
MT. Gox Bitcoin repayments begin in July.
In 2014, the exchange got hacked.
20k+ creditors lost 950k+ $BTC.
This long legal process has taken 10 years. pic.twitter.com/o0zs7TmHYw
— Altcoin Daily (@AltcoinDailyio) July 1, 2024
Traders are concerned that recipients might sell the tokens, potentially triggering a sell-off due to the dramatic increase in Bitcoin’s value over the years. This fear contributed to Bitcoin’s steep losses in late June, compounded by two consecutive weeks of outflows from crypto investment products.
Bitcoin Price Prediction
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