Over the past week, Bitcoin dipped below $6,000 for the first time since October 2017. Now, the cryptocurrency market is up 5% over the past 24 hours and BTC appears to have found new support.
At press time, 95 of 100 top cryptocurrencies are in the green. Bitcoin, currently ranked #1 by market cap, is up 9.26% over the past 24 hours. BTC has a market cap of $110.31B with a 24 hour volume of $4.41B.
Bitcoin is up 9.26% over the past 24 hours. The Tokyo District Court ordered Mt Gox to begin compensating victims of its infamous 2014 hack, effectively stalling the exchange’s pending bankruptcy. Posted on the Mt Gox website June 22, the ruling may bring closure to a November 2017 petition requesting compensation — filed by creditors of the now-defunct Mt Gox exchange.
In a positive turn of events, victims will be compensated in accordance with civil rehabilitation law, not bankruptcy. Given that civil rehabilitation proceedings do not recompense in equivalent fiat value but in the original asset lost, victims are entitled to claim their lost Bitcoins and cash in on the triple-digit percentage hike the coin has seen since the hack.
Those who lost Bitcoin in the Mt Gox hack must file claims by October 2018, however, no official schedule has been set for payments. On June 22, CNBC Fast Money host Brian Kelly reminded viewers that despite recent price drops, Bitcoin isn’t dead yet. Read more from cryptoslate.com…
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