📊｜Is the United States going to make trouble again?
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📢It is well known that between June and July this year, the German government continued to transfer hundreds of millions of dollars worth of Bitcoin, and the bankrupt exchange Mt.Gox also announced the start of compensation procedures, which caused considerable panic in the crypto market and was the darkest moment this year.
Affected by the panic of selling, Bitcoin fell by 15% between the end of June and the beginning of July, and even fell below $50,000.
According to the recent on-chain data, the US government has recently frequently transferred a large number of Bitcoins related to the Silk Road. In just two weeks in July and August this year, the US government transferred about $2.6 billion worth of Bitcoin to new wallet addresses, which is usually regarded as a precursor to preparation for sale.
However, since the US Marshals Service has an asset custody agreement with Coinbase Prime, the exchange may only help the government to custody these assets. However, as governments around the world continue to sell off large amounts of confiscated cryptocurrencies, the market is concerned about the price fluctuations that may be caused.
🔻However, Greg Cipolaro, head of research at digital asset management company NYDIG, believes that the selling pressure from the German government, Mt.Gox, and miners selling coins, which caused panic in the market at the time, was exaggerated. Don't worry too much and panic before you are sure whether the US government will sell a large amount of coins in one go.
