GSR Lianchuang: BTC still has enough time to reach a new high before the end of the year

Odaily News Despite a broad sell-off in the crypto market after Mt. Gox took action to repay creditors, resulting in more than $665 million in liquidations in a single day, some market makers and investors remain optimistic about Bitcoin's medium-term prospects. Rich Rosenblum, co-CEO and co-founder of GSR, said that the amount to be paid by (Mt. Gox) is expected to become a "burden in the third quarter" for the market, "which is almost as much as the number of bitcoins mined in the first year after the halving. However, once it is digested, (the price of Bitcoin) still has enough time to hit a new record high before the end of the year." (The Block)