- Bitcoin has been fluctuating around $66K lately
- It may stay at this level for some time and has the potential for further growth
- However, the market is wary of 127000 Mt. Gox creditors’ potential influence
So, Bitcoin is 12% closer to all-time highs and has been balancing around ~$66K for some time now.
According to some opinions, this price may persist for some time, allowing investors to buy Bitcoin at a favorable price in the context of further expected growth.
Perhaps investors can see this trend, as there are not many offers for sale, which may lead to a shortage of supply and, consequently, price growth. This may be signalized by the decrease in the number of Bitcoin deposit addresses on exchanges, which currently stands at 25,000, according to CryptoQuant contributor Axel Adler.
However, some have expressed fears that the price rise could be affected by payments to Mt. Gox’s creditors, which could bring to the market 127,000 creditors with a combined capital of over $9.4 billion in Bitcoin. But so far, these fears have not been backed up by signals, as there is no noticeable spot trading volume dominance or BTC outflows on Kraken, at least not yet.
Let’s keep a close eye on the activity of fresh inflows, should they appear, and how they might affect a potentially lucrative buying opportunity for investors.