#BTC hit the 60k levels . This should bounce from here otherwise situation will worsen .

Next support levels 58k , 55k , 52k

MtGox shit has added fuel to it . So for they were just delaying , but now they have confirmed that the distribution will really begin from the beginning of the upcoming month . Though its circulating since years but they know when to cash it .

Now the question is if they will just distribute the stolen Btc back, why dump ?

Long story short : In 2014, BTC was priced at around $300, which is negligible compared to current prices. Those who lost BTC will get it back in the same form , which is now skyrocketed in value .

For instance, if someone lost 3.3 BTC worth $1,000 in 2014, they will now receive the same 3.3 BTC, but it’s valued at approximately $200,000 today. Its expected that many recipients are likely to sell this newly received wealth rather than hold it, leading to increased sell-off pressure in the market.

But this is not the end of this cycle. This news has likely marked the end of the turbulence. Altcoins are already exhausted from dumps, and I sense a reversal soon. Patience guys .