U.Today – Here’s a roundup of the three most popular stories from the last day, presented by U.Today.
Over 140,000 BTC from Mt. hack. Gox will be returned: Market effect
According to a recent announcement issued by Mt.Gox, it will begin repayments to and from its customers in July 2024. The redistribution of the said digital assets comes more than a decade after the infamous 2011 hack that resulted in the loss of approximately 700,000 BTC, and later through the bankruptcy and closure of the exchange in 2014. As stated by Mt.Gox trustee Nobuaki Kobayashi, repayments will be made in Bitcoin and Bitcoin Cash in cooperation with many cryptocurrency exchanges. He stressed that the group needed time to ensure “safe and reliable repayment to creditors.” This development could have a significant impact on the market as the release of these funds could put significant selling pressure on Bitcoin, which is already struggling to maintain its price above key price levels.
Will July be bullish for XRP? Price history says yes
Bloody June is coming to an end, so it’s high time to look forward to July, which gives hope for more positive price behavior, at least in the case of the token. CryptoRank’s historical price data shows that over the past four years, July has been particularly favorable for XRP. As of 2020, the minimum return on investment in the token this month was 6.91% and the maximum was 48.1%. However, the five years leading up to the start of the recent decade were not all that vivid and ended in negative territory. Thanks to this, the average return on investment in XRP in each July since the token’s release has so far amounted to 5.56%. The median, a more exact indicator, signals an almost neutral augment of 0.07%. So, based on historical data, XRP is expected to at least “not decline” and at most even augment in the coming month.
Bitcoin (BTC) will reach $1 million next year, predicts Samson Mow
Jan3 CEO and prominent Bitcoin enthusiast Samson Mow recently visited the X platform to share another bullish take on his preferred digital asset. In his post, Mow stated that Bitcoin will hit a high of $1 million “within the next year,” even though many market participants doubt whether this result will come true. Samson Mow is well known for his long-term, bullish Bitcoin price predictions; he often devotes his X posts to the “$1 million for Bitcoin” scenario becoming a reality as a result of “Omega candles” or at least “Godzilla candles”. Its confidence is likely due to the approval of spot Bitcoin ETFs in January and the fourth Bitcoin halving that occurred in overdue April. Following the green airy for SEC ETFs, massive BTC accumulation began. Mow then stated that spot ETFs would cause a demand shock for Bitcoin. In another prediction, CEO Jan3 predicted that Bitcoin will rise to $1 million as a demand shock meets a supply shock.
