Analyst: BTC is expected to rise to $150,000 after the Mt. Gox distribution is completed

ChainCatcher news, QCP Capital stated that concerns over the large BTC sales resulting from the allocation by the Mt.Gox exchange may exacerbate bearish sentiment. Mt.Gox will begin distributing customer assets stolen in the 2014 hack in July 2024, after previous deadlines have been postponed for several years. This distribution will be in the form of Bitcoin and Bitcoin Cash, which could put selling pressure on both markets.

However, some traders' long-term bullish outlook remains intact, with expectations that prices will rise to $150,000 after the Mt.Gox distribution is completed. Tom Lee, head of research at Fundstrat Global Advisors, stated that one of the biggest uncertainties will disappear in July, and I believe this is one reason for the anticipated significant rebound in the second half of the year.