Bitcoin

<ul><li>Mt. Gox has returned a huge chunk of its BTC returns.</li><li>55% of these Bitcoin recipients have chosen to not sell their returned BTC.</li><li>The vote took place on Mt. Gox Reddit forum where the majority was in favor of holding BTC.</li></ul>A true sign of bullish times can be deducted from the fact that <a href="https://cryptonewsland.com/mt-gox-returns-36-btc-fund/" rel="noopener noreferrer nofollow">Mt. Gox has been returned thousands of BTC worth billions</a> and the crypto market continues to hold its bullish momentum. Presently, Bitcoin (BTC) is at $64,740.<a href="https://x.com/BSCNheadlines/status/1813875684705726755" rel="noopener noreferrer nofollow">https://x.com/BSCNheadlines/status/1813875684705726755</a>As we can see from the post above, 55% of Mt. Gox creditors have chosen not to sell their newly returned BTC, but to rather hold tightly to them. Additionally, the vote took place in a poll form on <a href="https://www.reddit.com/r/mtgoxinsolvency/comments/1dwbur4/what_percentage_of_your_bitcoins_will_you_sell/" rel="noopener noreferrer nofollow">Reddit Mt.Gox</a> where of the 467 members who voted, 260 chose not to sell their BTC after receiving the compensation.This accounts to the highest proportion of 55% leaving 88 votes to sell all their BTC, 68 voted to sell 1% to 25%, and 26 votes to sell 25% to 50%. The majority support to hold BTC supports the expectations from many crypto and Bitcoin analysts who are predicting that Bitcoin will set a new all-time high (ATH) and continue to soar towards price discovery ranges.About 4 months ago, Bitcoin (BTC) set a new ATH of $73.737. Now, following the major FUD caused by the German government selling its Bitcoin, the crypto market has swung to a bullish recovery phase.Analysts note that the next major target for BTC price is the $74,000 mark which means Bitcoin will set a new ATH if this price is reached. One chart in particular explains that BTC is printing a <a href="https://x.com/Washigorira/status/1813863846961991980" rel="noopener noreferrer nofollow">broadening bottom pattern</a> which could play out at any moment.Adding on to this bullish narrative is Doctor Profit, a seasoned long-term crypto trader known for his silver-tongued crypto market predictions. Doctor Profit initially predicted that BTC price would climb up to $66,000 after it bottomed at $54,000.<a href="https://x.com/DrProfitCrypto/status/1813589114337583575" rel="noopener noreferrer nofollow">https://x.com/DrProfitCrypto/status/1813589114337583575</a>Presently, he expects some sideways movement between the $62,000 - $67,000 price range after which he says BTC will move towards the upside. In the eyes of Doctor Profit, Bitcoin will set a new ATH and then <a href="https://cryptonewsland.com/btc-will-surpass-74k-to-enter-80k/" rel="noopener noreferrer nofollow">continue toward hitting the $80,000 price mark</a> until it could hit even the $100,000 price target.

55% of Mt. Gox Bitcoin Recipients Choose to Hold Their Newly Returned BTC, Major Bullish Sign for New BTC ATH

Crypto News Land

Other articles published on Jul 18, 2024

$WEN and TOYMAK3RS Debut Limited Edition Collectible Toy That Unlocks Unique Cross-Chain NFTs Usi...

UFC Champion Alex Pereira Aligns with BlockDAG; FLOKI Scams and Polkadot Downturn Leave Investors...

Binance Secures Apology from Bloomberg Businessweek Over Defamatory Claims

Brett (Based) Eyes 10x Growth: Is BRETT the Next Big Thing?

Introducing BNB Chain’s Train Like A Champion Challenge With $250K Rewards

Why RAIN Chooses Polygon for Its Blockchain Foundation

Join our free newsletter for daily crypto updates!