Major Bitcoin supporter Mow expects Bitcoin to reach $1 million and names a time frame when this may happen
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Today, Samson Mow tweeted that “Bitcoin is going to $1 million,” and he added that he is “not uncertain.” In the comment thread, the cryptocurrency influencer shared that he believes it is likely toMow also offered a comment on the mammoth-sized Bitcoin transactions made by the Mt Gox crypto exchange today. The platform started moving Bitcoin and Bitcoin Cash in order for payouts to the creditors could start.
Chinese cryptocurrency journalist Colin Wu spread the word that the Kraken exchange has received Bitcoin and Bitcoin Cash funds for the creditors. The platform will take one or two weeks to start distributing that crypto. Samson Mow does not believe the Mt Gox payouts will have any significant impact on the Bitcoin price. He expects only 20% of that Bitcoin to hit the market. As for the remaining 80%, the Jan3 boss believes it will be either moved to cold storage wallets or will be locked in finance apps as users are likely to make some borrowings against this Bitcoin.
But Mow is certain that 100% of the Bitcoin Cash returned to the creditors by Mt Gox will be sold by the recipients.Bitcoin plunged by roughly 3.7% earlier today, falling back to the $62,500 zone. This decline was followed by a small recovery. As of this writing, Bitcoin is changing hands at $63,815.Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017.
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