The future of $BTC , according to experts:
Before seeing the analysts' opinions, it is necessary to understand that users, when they bought #Bitcoin 10 years ago, it was worth 600 USD.
In that period, the cryptocurrency has skyrocketed more than 10,000% to currently trade at $62,500.
This means that without a doubt, many investors would now be willing to take profits and sell their bitcoins.
John Glover, chief investment officer at cryptocurrency lending company Ledn, stated:
“Many will clearly cash out and enjoy the fact that having their assets trapped in the Mt. Gox bankruptcy was the best investment they ever made. Some will clearly choose to take the money and run,” he clarified to CNBC.
JPMorgan analysts also noted this situation:
“Assuming the majority of liquidations by Mt. Gox creditors take place in July, [this] creates a trajectory where cryptocurrency prices come under increased pressure in July, but begin to recover.” starting in August.”
However, many experts pointed out that the selling pressure would be for the short term.
“Many of the early adopters of Mt. Gox, as well as creditors, are long-term Bitcoin enthusiasts and are less likely to sell all their bitcoins immediately,” highlighted Lennix Lai, chief commercial officer at crypto exchange OKX.
Finally, CCData research analyst Jacob Joseph left an interesting reflection:
“A good portion of creditors are likely to take a 10% haircut on their holdings to receive early repayment, and not all holdings will be liquidated on the open market, reducing overall selling pressure,” he said.
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