There are concerns about the MT. GOX crash and other negative factors, but there are some factors that will drive the crypto market to new highs.
FTX plans to distribute more than $16 billion to its creditors
Here is the timeline
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➜ August 16: FTX customer voting deadline
➜ October 7: Judge Dorsey makes a decision on plan approval
If approved by the court, FTX will repay creditors within two months.
According to the timeline, this will happen in the fourth quarter of 2024 to the first quarter of 2025.
This matches perfectly with other positive factors such as interest rate cuts, the implementation of the Financial Accounting Standards Board accounting rules, and the results of the US election.
Given that most FTX customers are cryptocurrency enthusiasts, a huge amount of $16 billion will enter the cryptocurrency market
This will be the biggest catalyst for price increases.
BTC will break $120,000, ETH will break $12,000, and many other altcoins will rise 10x to 50x
