US Government Moves $2 Billion in Silk Road Bitcoin

[Yamane_Keto]

BREAKING:

The US. Government just moved $2B of Bitcoin to a new address:

bc1qsl993y04xnq4fyhmrt6cnmctgjjv9ukdvrk0cd

It is not yet known whether these coins will be sold or not, but $2 billion is an amount that will have a negative impact on the price if sold. What do you think, will the price be negatively affected if the sale is announced?

[Charles-Tim]

The coins moved to a new wallet address is different from it is moved to an exchange or an exchange address.

One thing that I know if United States wants to sell and sell the huge amount of bitcoin is that the price will fall as some people will sell their coins also while some will use the opportunity to open short position in the derivative market. But the price will rise back. But what is needed is time for the price to rise back.

[Yamane_Keto]

The coins moved to a new wallet address is different from it is moved to an exchange or an exchange address.

It has not been confirmed whether it is a new wallet or a coinbase cold storage and may not be announced for a while.
Its effect on the price will be the same as the moment of the announcement, but if the sale takes place, then most likely the liquidity has been absorbed.

[ZAINmalik75]

It is not yet known whether these coins will be sold or not, but $2 billion is an amount that will have a negative impact on the price if sold. What do you think, will the price be negatively affected if the sale is announced?

First it was Germany then MT GOX and now Silk Road while people were expecting distribution from FTX exchange. I think all of these exchanges found this time better for distribution. If the government moved these $2 billion worth of funds then it's not good news for all of us because eve if 30k BTC is less than Germany's selling, but it will make the whole market volatile again.

Guess what, people will panic again and sell their holdings, book profit, and be a part of FOMO.

Silk Road selling will cause good selling pressure but I don't think the market will dump this time, even if FTX starts their distribution. There are chances that the market will dump but won't go below $58k. If they have moved these funds then there is a chance that will be selling them soon.

[JunaidAzizi]

BREAKING:

The US. Government just moved $2B of Bitcoin to a new address:

bc1qsl993y04xnq4fyhmrt6cnmctgjjv9ukdvrk0cd

It is not yet known whether these coins will be sold or not, but $2 billion is an amount that will have a negative impact on the price if sold. What do you think, will the price be negatively affected if the sale is announced?

Is this authentic news or not? In my view, they are just moving Bitcoin from one address to another, and it will not have a negative impact on the market. Speculation may be negative, but it will not decrease the price. However, if they start selling these huge amounts of Bitcoin, remember what happened to the price when Germany started selling their bitcoins. This time, we may see a significant dip in the price if they start selling. But don't worry; if they do start selling, a new opportunity will open for those who are willing to buy Bitcoin when the price is low.

[Yamane_Keto]

Is this authentic news or not? In my view, they are just moving Bitcoin from one address to another, and it will not have a negative impact on the market. Speculation may be negative, but it will not decrease the price.

With the price holding together it seems that this is what happened, the price did not move negatively so either they did not sell or it was sold via an OTC deal and it was not announced so the price was not affected.

[Faisal2202]

It is not yet known whether these coins will be sold or not, but $2 billion is an amount that will have a negative impact on the price if sold. What do you think, will the price be negatively affected if the sale is announced?

If they moved it means they are planning on selling them, I heard the same type of statement when they moved Mt Gox and Germany Funds and people were saying they just moved the funds but there is no official news of selling. But believe me, I know that they will be selling them shortly. But I think they have the luxury to sell the BTC anytime they want not like Germany making excuses that they had no option. As they sold them under pressure.

Price will definitely be affected by this selling because $2 billion is not a small amount it can cause a great dump but if there are people buying it as well then maybe we might not see a dump for a long time but if the sale was not done by OTC a dump is permanent either long or short.

[de_prof]

It is not yet known whether these coins will be sold or not, but $2 billion is an amount that will have a negative impact on the price if sold. What do you think, will the price be negatively affected if the sale is announced?

If they moved it means they are planning on selling them, I heard the same type of statement when they moved Mt Gox and Germany Funds and people were saying they just moved the funds but there is no official news of selling. But believe me, I know that they will be selling them shortly. But I think they have the luxury to sell the BTC anytime they want not like Germany making excuses that they had no option. As they sold them under pressure.

Price will definitely be affected by this selling because $2 billion is not a small amount it can cause a great dump but if there are people buying it as well then maybe we might not see a dump for a long time but if the sale was not done by OTC a dump is permanent either long or short.

Big sales will of course affect the price of Bitcoin, haven't we seen that? Mt Gox sales in large amounts caused bitcoin to experience a correction. But don't worry because the market will return to stability if there is no panic from bitcoin investors. And in my opinion, in this cycle, bullishness is still far from possible next year, so we don't need to worry.
The German government wants to sell their bitcoins too, please, because I have the confidence to keep holding my bitcoins at least until the end of this year.

[Faisal2202]

Big sales will of course affect the price of Bitcoin, haven't we seen that? Mt Gox sales in large amounts caused bitcoin to experience a correction. But don't worry because the market will return to stability if there is no panic from bitcoin investors. And in my opinion, in this cycle, bullishness is still far from possible next year, so we don't need to worry.
The German government wants to sell their bitcoins too, please, because I have the confidence to keep holding my bitcoins at least until the end of this year.

I did see the price dump due to Germany and Mt Gox selling and we will definitely see another dump when the US government sells their $2 billion worth of BTC and then the FTX will distribute the funds of their customers as well. I think maybe both events will happen at the same time like the Germany and Mt Gox event happened at the same time or very near to each other.

I think it is because maybe by doing it the dump will come faster and the market will recover faster as well and it won't stay in one condition for a long time.

I also have confidence in the market even if Germany and other people don't have, and we should not say they don't have confidence in the first place because everyone has their own plan to exit the market. So do we have.

[Rubel007]

If this large amount is sold in Bitcoin then the price of Bitcoin will  lose its value. But if someone or any organization wants to sell Bitcoin it will be completely up to them. When Bitcoin takes a big price drop, it becomes a great buying opportunity for some. But there is nothing to be disappointed by such news. These will happen often. A few days ago, the German government's Bitcoin sale had an impact on the crypto space, but it didn't last. Bitcoin again quickly recovered from the decline stage. Such events will also happen in the future. Here those who patiently hold bitcoins will definitely be profitable from bitcoins.

[hugeblack]

If this large amount is sold in Bitcoin then the price of Bitcoin will  lose its value. But if someone or any organization wants to sell Bitcoin it will be completely up to them. When Bitcoin takes a big price drop, it becomes a great buying opportunity for some. But there is nothing to be disappointed by such news. These will happen often.

It depends on where it will be sold. If it is bought by an OTC trader, a private company, or in a deal, its impact on the market will be limited. At that time, it is not in the buyer’s interest to announce the deal so that profits are not affected, although I believe that government reports are shown to everyone, and we will know before the end of the fiscal year whether the government has sold those bitcoins or not.

[Wiwo]

The coins moved to a new wallet address is different from it is moved to an exchange or an exchange address.

One thing that I know if United States wants to sell and sell the huge amount of bitcoin is that the price will fall as some people will sell their coins also while some will use the opportunity to open short position in the derivative market. But the price will rise back. But what is needed is time for the price to rise back.

Yes I don't know why some bitcoin forum members believe that each time bitcoin is moved from one wallet to the other, or from hot wallet to exchange means that those bitcoin will be dump in the market, well even if the sell out all of that bitcoin, it won't affect the price to the point that it can cause crisis in the market.

Let's learn to play by the rules and build our confidence in the market, because such things as this won't stop happening in the bitcoin ecosystem anytime soon, we also should avoid spreading fuds each time large bitcoin are moved from wallets to wallets.

[Hamza2424]

BREAKING:

The US. Government just moved $2B of Bitcoin to a new address:

bc1qsl993y04xnq4fyhmrt6cnmctgjjv9ukdvrk0cd

It is not yet known whether these coins will be sold or not, but $2 billion is an amount that will have a negative impact on the price if sold. What do you think, will the price be negatively affected if the sale is announced?

hmm currently there's no movement in the market as you know the market is still trading above 60k and I'm sure it will continue to trade above 60k at least for some days, If they've sold that amount i think there would be already news in the market they haven't sold yet means they are not willing to sale for now. 2B is not a small amount If it happens for sure temporary volatility can be experienced.

[JoyMarsha]

There's nothing to worry about the movement of the confiscated amount of Bitcoin held by the US government. If the US government likes, let them sell the confiscated Bitcoin at any time they wish, the market will absorb the price within a short time, giving us the availability to buy Bitcoin at a discount price. You see, it's an advantage to us to whatever price Bitcoin falls in, whether Bitcoin increases or decreases

[TryNinja]

Yes I don't know why some bitcoin forum members believe that each time bitcoin is moved from one wallet to the other, or from hot wallet to exchange means that those bitcoin will be dump in the market, well even if the sell out all of that bitcoin, it won't affect the price to the point that it can cause crisis in the market.

If they do OTC, chances are that it looks like a normal transaction. And while OTC doesn't move the market directly, it still potentially absorbs buy volume which could be spent on the normal market (making the price go up).

At the end of the day we never know why they're moving it, but they could as well hold them so the price keeps climbing.

Maybe if Trump wins and really keeps his promise of not selling more USA owned coins.