What would you like us to discuss here? This is just the U.S. government liquidating some of the BTC's seized from the Silk road and James Zhong, they still have a lot of BTC's left in their possession and they would eventually liquidate them too. It is neither surprising nor significant because the U.S government had already earlier said they'll be liquidating the seized BTC's in several batches, and i don't think it will make any significant difference in the price of BTC as the coins are sold in batches.
The most exciting thing according to the news is, the US government is selling those BTC on Coinbase. Yeah, you heard right, that exchange against which the same governments have opened several cases including with the Binance Exchange. Quote
Curiously, though, the US government appears to be selling Bitcoin on Coinbase, the very platform that the SEC considers an “unregistered securities exchange.”
The amount is huge and I think it will put some effect on the market too but the market is already opened before $30.6 as we can see, the market was opening around $30.6k in the last two days but today it opened around $30.3k which directly indicates the impact of this transaction and maybe this news didn't get that much hype which could create the fud so that's why the effect is lesser than before. And I also heard the news of MT gox too of which I am not fully aware now.
i think they have rescheduled the payment in October. so we might see another downtrend in October. And as you said, these transactions will be made in batches and if the next batch fall into the month of October then we can have another huge downtrend which could retarget $29k again. Or maybe more.
i think they have rescheduled the payment in October. so we might see another downtrend in October. And as you said, these transactions will be made in batches and if the next batch fall into the month of October then we can have another huge downtrend which could retarget $29k again. Or maybe more.
That will definitely affect the market negatively, and I would be more excited than worried because the price drop is an opportunity to buy. It is an opportunity, and we should take advantage of it instead of fearing it.
