The price of Bitcoin (BTC) returned to a familiar range amid alleged panic surrounding Mt. Gox and the United States government transactions seem to be fading away. BTC is up nearly $2,000 from a day earlier after witnessing a sharp drop from the $30,000 level down all the way to $27,300.

As the Bitcoin was on the course to correct & consolidate following its uninterrupted surge, the price-tag snapped downwards as fears that BTC in wallets controlled by the USA government and that entities related to hammered exchange Mt. Gox were on the move, began to mount.

News debunking Mt. Gox’s conundrum began to circulate, which resulted in a rapid recovery to BTC, returning it to the $29,500 as if it hasn’t been fazed. A curveball for the books, Bitcoin bulls are looking to achieve the $30k mark once more; a high last witnessed in May of 2022 prior to mid-April’s valuation.

Sources:

https://cointelegraph.com/news/bitcoin-price-retargets-29k-after-mt-gox-panic-liquidates-320m

https://cryptonews.net/news/bitcoin/20889186/

https://www.advfn.com/stock-market/COIN/BTCUSD/crypto-news/90874225/bitcoin-price-retargets-29k-after-mt-gox-panic-l