Mt. Gox’s Bitcoin Dump: How Will The $9 Billion Sell-Off Affect BTC’s Price?
Summary
Mt. Gox will start refunding Bitcoin and Bitcoin Cash to customers this week. Experts believe the potential sell-off impact will be contained and short-lived due to creditors' long-term interest in Bitcoin, liquidity in the market, and varied recipients of the funds. Analysts offer insights into Bitcoin's price prospects for July, with historical trends indicating a strong rebound and robust support at $61,100. Resistance levels at $64,050 and $66,250 are crucial for retesting the all-time high of $73,700 in March. The current price of Bitcoin is $62,630, up 2% in the last 24 hours.
