Fundstrat's Tom Lee is standing by his $150,000 forecast for bitcoin despite the cryptocurrency's recent weakness. Bitcoin has been stuck in a tight trading range between $60,000 and $70,000 since it touched an all-time high of about $73,000 in March. At the end of June, it slid to the lower end of that range. "Bitcoin's probably suffering from Mt.
Gox crypto exchange, once the largest in the world, said it will begin repayments to creditors in July – 142,000 bitcoins worth $9 billion at today's prices – although it has an October deadline to do so. That spooked the market, with investors worried creditors may soon sell some of that bitcoin, after waiting more than 10 years for a resolution with the exchange. Additionally, the U.S.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: