GSR Co-founder: Bitcoin still has enough time to reach a new high before the end of the year

ChainCatcher news, according to The Block, despite Mt.Gox taking action to repay creditors, a widespread sell-off in the crypto market led to a daily liquidation amount exceeding $665 million, but some market makers and investors remain optimistic about Bitcoin's mid-term prospects.

GSR co-CEO and co-founder Rich Rosenblum stated that the amount to be paid by Mt.Gox is expected to become a "burden on the market in the third quarter," "which is almost as much as the number of Bitcoins mined in the first year after the halving. However, once it is digested, there is still plenty of time for the Bitcoin price to reach a new all-time high before the end of the year."