Mt. Gox has returned a huge chunk of its BTC returns.
55% of these Bitcoin recipients have chosen to not sell their returned BTC.
The vote took place on Mt. Gox Reddit forum where the majority was in favor of holding BTC.
A true sign of bullish times can be deducted from the fact that Mt. Gox has been returned thousands of BTC worth billions and the crypto market continues to hold its bullish momentum. Presently, Bitcoin (BTC) is at $64,740.
JUST IN: SOCIAL MEDIA SURVEY SUGGESTS THAT 55% OF MT GOX BITCOIN RECIPIENTS CHOOSE NOT TO SELL THEIR NEWLY-RECEIVED BTC
— BSCN Headlines (@BSCNheadlines) July 18, 2024
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 Reddit Mt.Gox 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 broadening bottom pattern 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.
#Bitcoin:My first target of $66,000 region was hit with absolute perfection today. What is next? We will see a small sideway range between 66/67k – 62k. Sideway in this range is what I expect to see in the coming daysAfterwards, we will continue moving upside.. https://t.co/XwKqQdAPrQ pic.twitter.com/lHfcQ70n9n
— Doctor Profit (@DrProfitCrypto) July 17, 2024
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 continue toward hitting the $80,000 price mark until it could hit even the $100,000 price target.
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The post 55% of Mt. Gox Bitcoin Recipients Choose to Hold Their Newly Returned BTC, Major Bullish Sign for New BTC ATH appeared first on Crypto News Land.
