IF German gov is like any other big seller, they will be putting out orders on a program basis rather then personally deciding when to sell and how much. The volume weighted average will be used to determine how capable the price is of taking their next batch of sales. Often selling or buying programs can take months to play out and they deliberately dont want to be forced into selling at any certain price or be predictable or others will attempt to profit from their predictability.
Lows today were the 50 day average so BTC remains positive in the medium term and well capable of floating the liquidity of any party wishing to offload their position.
Topic: German government having second thoughts. (Read 550 times)
They will regret this when Bitcoin explodes to new high, after new high, after new high. What does a nation state possibly gain by selling Bitcoin. They have loads of national debt, they can print money whenever they want (they do) so why sell something that has a limited supply. It makes no sense, also the fact they are not selling OTC is very amateurish.
Well perhaps they just want to dump it, simply as that, most of the seized Bitcoin goes back as far as 2014, so that's 10 years holding for them so it's just about time for the government to sell, and not care about the profit (although for sure they've made huge gains already).
And now that they are done, the market didn't move as others predicted, like in the range of $30,000-$40,000.
Now the market is back, maybe at the end of this month, we will see $60,000 or higher. And as we close this book, it just shows how resilient Bitcoin market is, not even 50,000 BTC put a huge dent in the price.
And I think that's what smart investors are, buying at every dip, at every opportunity to buy when as big as 50k BTC, and thanks to the German goverment. And by today, they have sold everything and guess what? the market has bounce back.
So there's FOMO right now after that big FUD coming from the German government, and the price is looking strong. Now the next question is, with this behind us now, are we going to see a parabolic rise and what are the chances that we might hit a new all time high this month?
They will regret this when Bitcoin explodes to new high, after new high, after new high. What does a nation state possibly gain by selling Bitcoin. They have loads of national debt, they can print money whenever they want (they do) so why sell something that has a limited supply. It makes no sense, also the fact they are not selling OTC is very amateurish.
It's a tiny amount of money for a government. In Germany almost 40% of their GDP is tax income. Since they make 4.5 trillion a year, they make 2 trillion USD from taxes alone. Let's say they made 500m from their recent bitcoin sale. That's nothing! Even if they could make $50m more if they sold OTC all it's going to achieve is get some people blamed for this and kicked out but I bet these guys had some shorts set up prior to the dumping. Who wouldn't try to make some money, knowing what they knew?
Let's be done with it. I don't care what Germany does as long as they stop threatening the market and inducing fear by moving coins back and forth and imagine, that's exactly what they're doing. This isn't random, they aren't doing it to sell but fuel the FUD.
they are buying it and selling it to see how much they can manipulate the market.
They will regret this when Bitcoin explodes to new high, after new high, after new high. What does a nation state possibly gain by selling Bitcoin. They have loads of national debt, they can print money whenever they want (they do) so why sell something that has a limited supply. It makes no sense, also the fact they are not selling OTC is very amateurish.
Well perhaps they just want to dump it, simply as that, most of the seized Bitcoin goes back as far as 2014, so that's 10 years holding for them so it's just about time for the government to sell, and not care about the profit (although for sure they've made huge gains already).
And now that they are done, the market didn't move as others predicted, like in the range of $30,000-$40,000.
Now the market is back, maybe at the end of this month, we will see $60,000 or higher. And as we close this book, it just shows how resilient Bitcoin market is, not even 50,000 BTC put a huge dent in the price.
And I think that's what smart investors are, buying at every dip, at every opportunity to buy when as big as 50k BTC, and thanks to the German goverment. And by today, they have sold everything and guess what? the market has bounce back.
So there's FOMO right now after that big FUD coming from the German government, and the price is looking strong. Now the next question is, with this behind us now, are we going to see a parabolic rise and what are the chances that we might hit a new all time high this month?
They will regret this when Bitcoin explodes to new high, after new high, after new high. What does a nation state possibly gain by selling Bitcoin. They have loads of national debt, they can print money whenever they want (they do) so why sell something that has a limited supply. It makes no sense, also the fact they are not selling OTC is very amateurish.
Well perhaps they just want to dump it, simply as that, most of the seized Bitcoin goes back as far as 2014, so that's 10 years holding for them so it's just about time for the government to sell, and not care about the profit (although for sure they've made huge gains already).
And now that they are done, the market didn't move as others predicted, like in the range of $30,000-$40,000.
Now the market is back, maybe at the end of this month, we will see $60,000 or higher. And as we close this book, it just shows how resilient Bitcoin market is, not even 50,000 BTC put a huge dent in the price.
They will regret this when Bitcoin explodes to new high, after new high, after new high. What does a nation state possibly gain by selling Bitcoin. They have loads of national debt, they can print money whenever they want (they do) so why sell something that has a limited supply. It makes no sense, also the fact they are not selling OTC is very amateurish.
Well perhaps they just want to dump it, simply as that, most of the seized Bitcoin goes back as far as 2014, so that's 10 years holding for them so it's just about time for the government to sell, and not care about the profit (although for sure they've made huge gains already).
And now that they are done, the market didn't move as others predicted, like in the range of $30,000-$40,000.
Now the market is back, maybe at the end of this month, we will see $60,000 or higher. And as we close this book, it just shows how resilient Bitcoin market is, not even 50,000 BTC put a huge dent in the price.
To those that wrote that "Germany tries to manipulate the market" and similar stuff:
These 50k BTC as we all know were coins from a criminal proceeding from the LKA Saxony, coins sized from Movie2k.to. And this means that normally there is an established, standarized procedure to sell those items. Well, Bitcoins may not often be seized this way, but real estate, cars, and so on are seized all the time, and thus there are laws and administrative decrees defining how such sales are done.
What I want to say with this is that there is no way for them to try to "speculate" with the coins, hoping for better prices, and much less "try to manipulate the market". Once the decision is made to sell, they have to sell. And as @cygan correctly wrote a big part was sold using OTC channels like FlowTraders.
An article about this "issue" has been published on BTC-Echo but it's behind a paywall (I have not read it).
The only way to not sell would have been a law or decree to change the procedure in these cases. This is what a German lawmaker called Joana Coatar tried to achieve some days ago, but it was of course WAY too late. She should have done this in January when the coins were seized.
Well, Germany has now run dry, and the price has barely moved during their selloff. The 53k dump was very likely not caused by them (it occurred during Asian trading hours, and the LKA Saxony wallet had moved only a small fraction at this moment) but by a panic triggered by the first MtGox coin movements, and subsequent long liquidations under the 59k and 56.5k support levels.
These 50k BTC as we all know were coins from a criminal proceeding from the LKA Saxony, coins sized from Movie2k.to. And this means that normally there is an established, standarized procedure to sell those items. Well, Bitcoins may not often be seized this way, but real estate, cars, and so on are seized all the time, and thus there are laws and administrative decrees defining how such sales are done.
What I want to say with this is that there is no way for them to try to "speculate" with the coins, hoping for better prices, and much less "try to manipulate the market". Once the decision is made to sell, they have to sell. And as @cygan correctly wrote a big part was sold using OTC channels like FlowTraders.
An article about this "issue" has been published on BTC-Echo but it's behind a paywall (I have not read it).
The only way to not sell would have been a law or decree to change the procedure in these cases. This is what a German lawmaker called Joana Coatar tried to achieve some days ago, but it was of course WAY too late. She should have done this in January when the coins were seized.
Well, Germany has now run dry, and the price has barely moved during their selloff. The 53k dump was very likely not caused by them (it occurred during Asian trading hours, and the LKA Saxony wallet had moved only a small fraction at this moment) but by a panic triggered by the first MtGox coin movements, and subsequent long liquidations under the 59k and 56.5k support levels.
I hope so. But, it may take some times for bitcoin to retake 60k support.
The Mtgox coins have already hit the market. SBI and Bitbank have credited their creditors earlier.
But I think the pressure is still there. Still, almost 80,000 bitcoins are undistributed. They are held by parties like Bitstamp or Kraken. This is preventing the market to recover, and bitcoin may be doing side way.
It shouldn't be a big issue for Bitcoin price if these coins are going to be redistributed in minor batches. The biggest problem is the FUD caused through alarming clickbait news stating Mt. Gox is repaying their customers (giving the false impression it's being done at once, as 9$ billion dollars in BTC for sale immediately hit the market).The Mtgox coins have already hit the market. SBI and Bitbank have credited their creditors earlier.
But I think the pressure is still there. Still, almost 80,000 bitcoins are undistributed. They are held by parties like Bitstamp or Kraken. This is preventing the market to recover, and bitcoin may be doing side way.
If investors fall for this psychological trigger again, then BTC price will dump once more... I think everyone is apprehensive regards it, and nobody knows yet what to expect. What we have for today is an optimistic chart displaying Bitcoin almosting breaking the 59,000$ resistance level, which can guarantee its return to the 60,000$'s.
News also state there has been being a positive influx of new investments being made in Bitcoin these days. There must be some good news going on the backgrounds which the public doesn't have access to. But if these investors are buying, maybe we should buy as well.
I actually think the opposite, where those who come to the market are the market users themselves because the market never goes anywhere to pick up every user to become a member of a particular market. This means that the market is just a place that continues to stay and provides important services to everyone who comes and enters it. So that people who want to trade are people who always like to take advantage of market situations and likewise people who want to continue holding assets that have been purchased in the market.
Market volatility is not affected by any conditions and the crypto market will continue to exist because we have seen evidence from the early history of bitcoin until now, the current movement dynamics are still in the normal category for the crypto market, so we don't need to worry about what market conditions will be like in the future and we should taking advantage of the low price situation to increase bitcoin assets because many investors are waiting for a discount price to buy bitcoin assets.Some investors have even stated that they will be ready to wait for bearish prices if that happens in the future, they have prepared higher funds to buy bitcoin at lower prices, and we should follow investors' steps to prepare reserve funds for portfolio bitcoin assets.
News reports saying Germany has sold off all of their Bitcoin holdings. Great news for the market. I hope we see a retaking of $60K next week and maybe even a run at $70K before mtgox coins start hitting the market. I also hope we see the price increase before the massive shorts hanging over the market can be covered.
I hope so. But, it may take some times for bitcoin to retake 60k support.
The Mtgox coins have already hit the market. SBI and Bitbank have credited their creditors earlier.
But I think the pressure is still there. Still, almost 80,000 bitcoins are undistributed. They are held by parties like Bitstamp or Kraken. This is preventing the market to recover, and bitcoin may be doing side way.
The market comes to us and we're not the one that goes to the market. I've set my principles and strategies which is ready to be triggered once the bull season steps in. It's a whole down patience which I'm holding firmly because giving up is not an option at my end. Bitcoin chances of breaking new ATH is very high but the main goal for traders and investors is simply sticking to main goal.
I actually think the opposite, where those who come to the market are the market users themselves because the market never goes anywhere to pick up every user to become a member of a particular market. This means that the market is just a place that continues to stay and provides important services to everyone who comes and enters it. So that people who want to trade are people who always like to take advantage of market situations and likewise people who want to continue holding assets that have been purchased in the market. 
News reports saying Germany has sold off all of their Bitcoin holdings. Great news for the market. I hope we see a retaking of $60K next week and maybe even a run at $70K before mtgox coins start hitting the market. I also hope we see the price increase before the massive shorts hanging over the market can be covered.
This is a great news because the market is going to have some relief while we wait for mtgox to also finish distributing their own Bitcoin that they are holding. The difference between the german fud and mtgox fud is Germany was selling directly as they had the Bitcoin but mtgox would not be selling directly but they will be sending the Bitcoin to different people and everybody would not be selling at the time to make the market to fall. Some people are still going to hodl their own Bitcoin and not sell therefore we should not be expecting the same impact like it did when Germany was selling. The market is going to recover and we would be in a better position to counter the selling pressure from mtgox. The market not falling more is a sign that the market might have bottom and it is, retracing that is the next step of the market to take. The market is only going to fall if the news that Germany are done selling was a lie and only a rumour.
But there is a difference that you need to know that the amount of bitcoin held by the German government is 50kBTC worth about 3 billion dollars while the amount of bitcoin held by Mt.gox is 142kBTC and worth more than 9 billion dollars. So even if there are some people who don't sell their bitcoins, there's no guarantee that it will have any less impact on the market.
But honestly, I don't see the German government or Mt.gox selling bitcoin having a significant impact on the market because looking at the trading volume, it can be seen that the market has enough liquidity with those selling orders. But it seems that someone is taking advantage of this news to manipulate the market, they are exaggerating this news to cause more panic in the market and make the dumping situation more serious. That's scarier than the German government and mt.gox selling bitcoin.
Justin Sun also tweeted on x that he said he was willing to negotiate with the German government regarding the Bitcoin they sold in order to minimize the negative impact on the market. But whether it is a serious statement or not, it seems that Justin Sun also feels that something is quite risky if the German government continues to carry out massive sales. Moreover Long strength which is still believed to cause a bullish after the Halving is far from expected.
https://x.com/justinsuntron/status/1808828661401072092
They will regret this when Bitcoin explodes to new high, after new high, after new high. What does a nation state possibly gain by selling Bitcoin. They have loads of national debt, they can print money whenever they want (they do) so why sell something that has a limited supply. It makes no sense, also the fact they are not selling OTC is very amateurish.
Knowing that the money from selling BTC is just peanut for the government, but I guess they just really want to get rid BTC and dump it altogether, good thing that they already changed their strategy and sell it through OTC for better prices, wonder why they didn't do it from the start, but know that all their BTC is already dumped, then I expect the news of BTC dumping to be less.regarding future news regarding Mt Gox i think it will be used for FUD as well, this bullrun around gonna be rough for bitcoin.
News reports saying Germany has sold off all of their Bitcoin holdings. Great news for the market. I hope we see a retaking of $60K next week and maybe even a run at $70K before mtgox coins start hitting the market. I also hope we see the price increase before the massive shorts hanging over the market can be covered.
This is a great news because the market is going to have some relief while we wait for mtgox to also finish distributing their own Bitcoin that they are holding. The difference between the german fud and mtgox fud is Germany was selling directly as they had the Bitcoin but mtgox would not be selling directly but they will be sending the Bitcoin to different people and everybody would not be selling at the time to make the market to fall. Some people are still going to hodl their own Bitcoin and not sell therefore we should not be expecting the same impact like it did when Germany was selling. The market is going to recover and we would be in a better position to counter the selling pressure from mtgox. The market not falling more is a sign that the market might have bottom and it is, retracing that is the next step of the market to take. The market is only going to fall if the news that Germany are done selling was a lie and only a rumour.
News reports saying Germany has sold off all of their Bitcoin holdings. Great news for the market. I hope we see a retaking of $60K next week and maybe even a run at $70K before mtgox coins start hitting the market. I also hope we see the price increase before the massive shorts hanging over the market can be covered.
Never really gonna trust whatever justin sun is spouting LOL he even lowkey trolled people in ZK listing, probably this is just a stunt, however, if it's true that's good.
regardless german government already settled with OTC even go as far as buying back BTC at lower price if i remember correctly and based on arkham intelligence already dumping quite the amount but don't get too relaxed yet. the german government still expected to dump even more.
just hoping the market won't be in turmoil once again.
regardless german government already settled with OTC even go as far as buying back BTC at lower price if i remember correctly and based on arkham intelligence already dumping quite the amount but don't get too relaxed yet. the german government still expected to dump even more.
just hoping the market won't be in turmoil once again.
That's right. Sun does it for attention, just like when he paid Buffett. He likes to read articles about himself and John McAfee was one of the first people in crypto who used to capitalize on saying stupid things and lying about bitcoin on social media and people were paying that sucker money, donating because he happened to act like he supports bitcoin.
Justin sun is the same kind of "crypto personality" as Bitboy, Richard Heart and Do Kwon.
I find this a good move. Not only we got to see Germany trying to be smarter about it now, we also got to see other nations see what happens if they did this, and the right way of doing it. I am not saying that we are going to end up seeing anything crazy or like that, but we could probably see them do much better.
This was basically an educational situation for governments all around the world, they could probably just do a lot better, and with how much money is seized every year, I think there will be a lot more bitcoins seized in the future and already seized by many governments right now. So in the future, these governments will not dump on the market because thanks to Germany they learned that it wasn't a smart move.
This was basically an educational situation for governments all around the world, they could probably just do a lot better, and with how much money is seized every year, I think there will be a lot more bitcoins seized in the future and already seized by many governments right now. So in the future, these governments will not dump on the market because thanks to Germany they learned that it wasn't a smart move.
Justin Sun also tweeted on x that he said he was willing to negotiate with the German government regarding the Bitcoin they sold in order to minimize the negative impact on the market. But whether it is a serious statement or not, it seems that Justin Sun also feels that something is quite risky if the German government continues to carry out massive sales. Moreover Long strength which is still believed to cause a bullish after the Halving is far from expected.
https://x.com/justinsuntron/status/1808828661401072092
https://x.com/justinsuntron/status/1808828661401072092
Never really gonna trust whatever justin sun is spouting LOL he even lowkey trolled people in ZK listing, probably this is just a stunt, however, if it's true that's good.
regardless german government already settled with OTC even go as far as buying back BTC at lower price if i remember correctly and based on arkham intelligence already dumping quite the amount but don't get too relaxed yet. the german government still expected to dump even more.
just hoping the market won't be in turmoil once again.
They will regret this when Bitcoin explodes to new high, after new high, after new high. What does a nation state possibly gain by selling Bitcoin. They have loads of national debt, they can print money whenever they want (they do) so why sell something that has a limited supply. It makes no sense, also the fact they are not selling OTC is very amateurish.
The market comes to us and we're not the one that goes to the market. I've set my principles and strategies which is ready to be triggered once the bull season steps in. It's a whole down patience which I'm holding firmly because giving up is not an option at my end. Bitcoin chances of breaking new ATH is very high but the main goal for traders and investors is simply sticking to main goal. 
I don't think they should stop selling because this is also a good time to buy. The market will still correct itself after some time.
Nobody really cares if they sell the bitcoins they have in their reserve or not, the worrying thing here is where they sell it. When countries/institutions sell off this amount of bitcoins, they usually do it in the OTC market, and in that way there wouldn't be too much effect on the price, but the German government chooses to sell in the spot market, and the question is why? Jump to: