Another news that would impact the price of bitcoin.. will this result to Bitcoin dropping below $60k, or even more?
Short term, price will be affected and fall down but in long term, it will recover well because Bitcoin trading volume now is 420,000
BTC in the last 24 hours according to
Coinmarketcap.I would be unrealistic if I say price will not be affected when US. government sell those bitcoins, but I am optimistic that Bitcoin will strong enough to recover from it. A warning to leverage enthusiasts is, with such news, now and in future with actual sale waves, price will be very volatile and if they use leverages with open positions in such time, they will be liquidated and lose money.
I don't know when they will start their sales but if it is after the President Election in USA., something can be changed if Trump get elected. This man wants to pay US. national debt in long term by investing in bitcoin and stop selling bitcoins they have now.
Trump floats paying off $35T national debt using Bitcoin“Who knows, maybe we’ll pay off our $35 trillion dollar [national debt], hand them a little crypto check, right? We’ll hand them a little Bitcoin and wipe away our $35 trillion."