Despite a broad sell-off in the crypto market after Mt.Gox took action to repay creditors, resulting in more than $665 million in liquidations in a single day, some market makers and investors remain optimistic about Bitcoin's medium-term prospects.
GSR co-CEO and co-founder Rich Rosenblum said that the amount (Mt.Gox) is expected to pay will become a "burden in the third quarter" for the market, "which is almost as much as the number of bitcoins mined in the first year after the halving. However, once it is digested, (Bitcoin prices) still have enough time to hit new all-time highs before the end of the year." (The Block)