U.Today: Here's a roundup of the top three news stories from the past day, brought to you by U.Today.
More than 140,000 BTC from Mt. Gox hack will have to be refunded: market effect
According to a recent notice issued by Mt. Gox, it will begin payments to its customers in July 2024. The redistribution of the aforementioned digital assets takes place more than a decade after the infamous 2011 hack, which resulted in a loss of approximately 700,000 BTC, and later in the bankruptcy and closure of the exchange in 2014. As stated by Mt. Gox administrator Nobuaki Kobayashi, the refunds will be made in Bitcoin and Bitcoin Cash in collaboration with multiple crypto exchanges. He stressed that the group has taken the time necessary to ensure “a safe and reliable payment to creditors.” This development could have a significant effect on the market, as the release of these funds could put considerable selling pressure on Bitcoin, which is already struggling to maintain its price above key levels.
Is July Bullish for XRP? Price history says yes
As the month of June draws to a close, it is high time to start looking towards July, which offers hope for more optimistic price behavior, at least for the token. CryptoRank price history data demonstrates that over the past four years, July has been particularly bullish for XRP. As of 2020, the token's minimum ROI in that month was 6.91% and the maximum was 48.1%. However, the five years that preceded the start of the new decade were not so brilliant and ended in the red. Because of this, the average ROI on XRP for each month of July since the token's launch has been set at 5.56% year-to-date. The median, and most accurate indicator, indicates a nearly neutral gain of 0.07%. Therefore, based on historical data, XRP is expected to at least “not fall” and at most even grow in the coming month.
Bitcoin (BTC) Will Hit $1 Million Next Year, Samson Mow Predicts
Jan3 CEO and noted Bitcoin enthusiast Samson Mow recently visited the X platform to share another bullish view on his favorite digital asset. In his post, Mow claimed that Bitcoin will peak at $1 million “over the next year,” although many market participants doubt this outcome will become a reality. Samson Mow is well known for his long-term bullish Bitcoin price predictions; he often dedicates his X posts to the “1 million dollars per Bitcoin” scenario that comes to life as a result of “Omega candles” or at least “Godzilla candles.” His certainty likely stems from the timely approval of Bitcoin ETFs in January and the fourth Bitcoin halving that took place in late April. After the SEC gave the green light to ETFs, the massive accumulation of BTC began. Mow then claimed that spot ETFs will create a demand shock for Bitcoin. In a subsequent prediction, the CEO on January 3 predicted that Bitcoin will skyrocket to $1 million once the demand shock meets the supply shock.
This article was originally published on U.Today.
