Is the Mt. Gox Saga Finally Over?

Mt. Gox has been the main “boogeyman” for the crypto community for over five years.

The media use any news related to this exchange to scare people with the impending fall of crypto.

Let’s figure out what this exchange is and why the BTC rate is supposedly bound to fall:

Mt. Gox was the largest cryptocurrency exchange in the world, handling about 70% of all Bitcoin transactions.

In 2014, the exchange ceased operations after announcing the loss of approximately 850,000 bitcoins due to several hacks and internal errors. This event became one of the most significant crises in the history of cryptocurrencies.

Ten years after the bankruptcy, in July, the long-awaited process of compensating affected users began. Rehabilitation trustee Nobuaki Kobayashi confirmed that payments would be made in Bitcoins (BTC) and Bitcoin Cash (BCH).

Over 141,686 BTC and 143,000 BCH, equivalent to about $9 billion at the current rate, will be returned to the exchange’s…

#BTC 16-17 of July are for bulls, next important week is 4-12 of August and we need to hold 62,700 till that time.

https://www.tradingview.com/x/JXuxpIM5/

Sigma Crypto Chad

#ETH/BTC Consolidating above the main support 0.0519. The first resistance around 0.0629 and seems like we will start our way towards it in the near future 🧐

https://www.tradingview.com/x/ZNikgKMQ/

Sigma Crypto Chad

#BTC shows good strength for now. Daily pivots worked perfectly. The next weekly pivot is in August. All time high targets are still possible if we manage to hold before 4-12 of August. Alts are getting for interesting and we ll increase altcoin recommendations

https://www.tradingview.com/x/PF2Mpcs4/

Sigma Crypto Chad

Pavel Durov announced that 2024 will go down in history

“2024 will be a landmark year as hundreds of millions of people become acquainted with blockchain.”

He expresses pride in the successes achieved by the Telegram messenger along with blockchain.

This month, Pavel plans to add a mini app store and a built-in browser with Web3 page support.

He also intends to intensify the fight against scammers who deceive people in the crypto sphere.

Telegram will soon start providing small statistics on public accounts, including the registration date and the primary country.

“We will also allow organizations to use their mini-apps to issue labels for channels, creating a decentralized market for third-party verification.”

#BTC Update 📈

⏳ Precise Timing: Our timing has been spot on. The next weekly pivot dates are August 5th and August 19th.

📊 Current Situation:
- Option 1: If Bitcoin goes higher before August 5th, we'll see a retest. Holding this retest could lead us to new all-time highs.
- Option 2: If we consolidate above support until August 5th, and hold it, we can expect a move higher.

🛑 Key Level: If we fail to hold $62,300, the move to new highs could take months and be a slower, more boring process.

Stay tuned for updates as we approach these pivotal dates!

https://www.tradingview.com/x/KwNPkEAd/

Sigma Crypto Chad

#ORDI Update 📈

📊 New Altcoin Position: It's been a while since we recommended an altcoin, but now is a great time to consider buying ORDI. We've formed a beautiful pennant, and several weekly pivots are approaching.

🔑 Key Levels:
- Main Support: $37.8 - We're consolidating above this level.
- Buy Signal: Once we close above the main trend line, it's recommended to add ORDI to your bag.

📅 Major Weekly Turning Points:
- July 29th
- August 12th
- September 2nd

🎯 Targets:
- Minimum Target: $61.5 (almost 50% profit)
- Potential Highs: If we flip $61.5, new all-time highs could come with targets above $100.

📈 Action Plan: Monitor carefully. Once we close above the major trend line, it's a definite Buy!

https://www.tradingview.com/x/CK2LZRnX/

Sigma Crypto Chad

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