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Gox to distribute 142,000 BTC and 143,000 BCH, valued at over $9 billion, to creditors. The payout process could commence as early as next month. All eyes are on the impact of the payout on Bitcoin and Bitcoin Cash price especially after the bitcoin halving event. Mt. Gox, once a major player in the cryptocurrency exchange scene, faced a devastating hack in 2014, leading to its collapse. Now, nearly a decade later, the defunct exchange is preparing to distribute a significant sum of digital assets including approximately 142,000 Bitcoin (BTC) and 143,000 Bitcoin Cash (BCH), amounting to over $9 billion in total, to creditors. This impending payout has prompted concerns among market observers, with K33 Research highlighting the possibility of a negative impact on the price of Bitcoin in a report released on Tuesday. According to the analysts, the influx of Mt. Gox coins into the market could create downward pressure on BTC valuation in the coming weeks. P...

Bitcoin (BTC) continues to extend its gains in the short term, recently clearing the $42,000 resistance. This comes as Bitcoin attempts to put behind recent sell-offs that emerged following the spot exchange-traded fund (ETF) approval.  It’s worth noting that despite the ongoing bullish sentiments surrounding Bitcoin, a section of the market continues to anticipate that the ETF will positively impact the asset in the long term. In particular, crypto trading expert Michaël Poppe, in a post on X (formerly Twitter) on January 27, focused on the longer-term impact of Bitcoin ETFs, anticipating a significant influence in the next few years. According to Poppe, widespread adoption could propel Bitcoin to reach a high of $500,000. “The real impact on the ETF is going to come in the next few years, resulting into a price of Bitcoin going to $300,000-500,000,” he said.  Bitcoin price analysis chart. Source: TradingView Bitcoin short-term outlook  Crypt...