Illustration of Bitcoin Rebounds After Mt. Gox Sell-Off: What's Next?

Bitcoin Rebounds After Mt. Gox Sell-Off: What’s Next?

Bitcoin saw a modest uptick on Monday morning, rising by 0.29% to trade at around $57,000.

The leading cryptocurrency had fallen to $55,000 on Friday when the defunct crypto exchange Mt. Gox started repaying its creditors in Bitcoin valued at billions of dollars, prompting a large sell-off by those creditors. Despite the recent recovery, Bitcoin remains more than 8% below its high from last week.

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