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Nintendo has been dominating the competition in terms of video game sales this summer. Last June, Nintendo released the best-selling video game of the month with Mario Tennis Aces before following-up with Octopath Traveler in July, which also topped the charts for the month. Despite the fact that the NPD Group does not track Nintendo’s […]
The latest chapter in the Mt. Gox saga reveals that creditors are looking to be paid in Bitcoin with the first payment expected no earlier than next summer after the approval of the rehabilitation plan.
BTC Payments Will Be Most ‘Simple and Efficient’
A revised civil rehabilitation proposal document published August 2 by lawyers representing several Mt. Gox creditors notes that the first payments to creditors are expected in summer 2019.
“Mt. Gox is not capable of returning all BTC deposited by creditors,” it reads. “Accordingly, we consider that all assets of Mt. Gox should be distributed to creditors and not to shareholders.”
There is only one question on the mind of cryptocurrency enthusiasts at the moment: Where will Bitcoin go from here? According to one expert trader, the outlook does not look promising this summer.
Cryptocurrency is ‘Vulnerable’
Bitcoin dropped to a new yearly low of roughly $ 5750 before experiencing a rescue bounce of sorts back up to roughly $ 6200. At the time of this writing, Bitcoin is trading at $ 6156 — but Jordan Hiscott, Chief Trader at Ayondo Markets, thinks the worst has yet to come.
Hiscott told Express.co.uk that he expects prices to decline further as the dog days of summer progress, noting:
The price action of Bitcoin is on everyone’s mind as we roll steadily towards the start of 2018’s third quarter. Let’s take a look at a few different scenarios for the rest of Bitcoin’s summer and the second half of the year.
To The Moon And Back
It is best that we first take a look at the Bitcoin chart on a macroscopic level to get an idea of where we have been, as well as the potential avenues we could go down for the remainder of 2018.
Below is the daily Bitcoin price from the end of April 2017 until the present.
The Breaking Bitcoin conference, first organized last summer in Paris, is returning for its second edition under the name “Building on Bitcoin,” this time in Lisbon, July 3–4, 2018. While the event in the French capital was centered around security, the one in the Portuguese capital will focus on second-layer technologies and other creative uses of the Bitcoin protocol.
“The Bitcoin blockchain is pretty limited in terms of features and flexibility; many newcomers think you can’t build anything with it,” Chainsmiths managing director and conference co-organizer Kevin Loaec told Bitcoin Magazine. “Yet, smart people find ways to build complex solutions on top of it. It’s interesting to share that knowledge.”
SBI Holdings has made its intention to enter the cryptocurrency industry pretty clear in the past twelve months. The group intended to launch a cryptocurrency exchange in late 2017, but those plans were postponed in the end. It now seems the company has updated its original plans, as the launch of their exchange will still be going ahead in the coming months.
SBI Holdings Wants in on the Cryptocurrency Action
Japan has proven to be a very open-minded country when it comes to Bitcoin and other cryptocurrencies. It is also one of the few countries in the world where Bitcoin is considered to be a legal form of money. As such, the ecosystem can genuinely thrive in that part of the world without risking government intervention unless things get really dicey.