Based

2024

Bitcoin

Arkham

<p>After a recent period of bearish sentiment, <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin (BTC)</a> has received a much-needed boost, thanks to a key announcement from the now-defunct crypto exchange Mt.Gox. Nobuaki Kobayashi, the rehabilitation trustee, announced that Mt.Gox has largely completed the base repayments to creditors who completed the required procedures.</p>   
<p>However, Kobayashi noted that a significant number of creditors have yet to receive their compensation due to delays in completing the necessary formalities. To address this, the trustee has secured court approval to extend the repayment deadline from October 31, 2024, to October 31, 2025.</p>   
<p>Yet another challenge! What's next? </p>   
<h2 class="wp-block-heading" id="h-mt-gox-holds-billions-in-bitcoin">Mt.Gox Holds Billions in Bitcoin</h2>   
<p>According to market data provided by <a href="https://platform.arkhamintelligence.com/explorer/entity/mt-gox" target="_blank" rel="noreferrer noopener nofollow">Arkham Intelligence</a>, Bitcoin addresses associated with Mt.Gox currently hold about 44.9k BTCs, worth about $2.75 billion.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/defi_mochi/status/1844318541882982795?s=46 
 </div>
</figure>   
<p>This substantial amount of Bitcoin still tied to the exchange adds another layer of complexity to market predictions.</p>   [post_titles_links postid="363150"]   
<h2 class="wp-block-heading" id="h-will-bitcoin-follow-gold-s-lead">Will Bitcoin Follow Gold's Lead? </h2>   
<p>Veteran trader Peter Brandt, analyzing historical market trends, predicts Bitcoin may retest the $48k support level before rallying to a new all-time high. He projects a price target of $135k by Q3 2025 but warns that this prediction could be invalidated if Bitcoin consistently closes below $48k in the short term.</p>   
<p>Bitcoin price will eventually follow in the footsteps of Gold, which is already in price discovery. Furthermore, the ongoing shift in the global economic outlook, escalated by the <a href="https://coinpedia.org/news/bitcoin-hits-61k-as-fed-slashes-interest-rates-by-50-bps-after-four-years/" target="_blank" rel="noreferrer noopener">recent Fed rate</a> - amid the upcoming <a href="https://www.youtube.com/watch?v=aP2Q_7rzNs0&amp;pp=ygUadXMgZWxlY3Rpb24gMjAyNCBjb2lucGVkaWE%3D" target="_blank" rel="noreferrer noopener">U.S. 2024 general election</a> and global geopolitical crisis - will favor liquidity addition in the crypto market.</p>   
<p>As a result, more institutional investors - led by MicroStrategy, Metaplanet, and BlackRock, among others - have been deploying funds in the Bitcoin market in anticipation of a major bull run ahead.</p>   
<p><strong>What do you think—will Bitcoin hit a new all-time high or face another correction?</strong></p>

Mt. Gox Repayment News: Bitcoin Price Eyes Rally as Deadline Extended to 2025

Table of Contents

CoinPedia News

Other articles published on Oct 10, 2024

Ripple Launches Crypto Custody Solutions to Help Banks Manage Digital Assets

Crypto-swiping malware infects 28K users, steals just $6K: Report

Why We Will and Should Never Know Who Satoshi Nakamoto Is?

BNB Chain’s Next BNB Incubation Alliance (BIA) To Take Place at Binance Blockchain Week Dubai (10...

XRP Whales Move 73M Coins As Speculation Over Cross-Appeal By Ripple Grows

Binance Secures Regulatory Approval in Argentina, Offering Full Crypto Services to Local Users

Join our free newsletter for daily crypto updates!