Analyst: BTC expected to rise to $150,000 after Mt. Gox distribution completed
QCP Capital says bearish sentiment could be exacerbated by concerns about large BTC sales resulting from the distribution of Mt. Gox exchanges, which is set to begin distributing customer assets stolen in a 2014 hack in July 2024, after a deadline that has been pushed back by years, and that the payments will be in the form of Bitcoin and Bitcoin cash, which could put both markets with selling pressure. However, the long-term bullish outlook of some traders remains intact, with prices expected to rise to $150,000 once the Mt. Gox distribution is complete. one of the biggest overhangs will be gone in July, and I think that's one of the reasons to expect a big rally in the second half of the year, said Tom Lee, head of research at Fundstrat Global Advisors.
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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