Germany sells 50 000 BTC worth $3 billion?

[Faisal2202]

True, Bitcoin is getting stable right now settling at around $57K yet there can be more selling pressures ahead all because of the coming FTX distribution though I am not sure what can be the percentage of BTC to what they will release...and then MtGox has not been fully resolved yet...let's hope that all of these developments are already factored in to the current price so there will be no major impact anymore. There is no choice for now but to ride on the waves and just continue hoping that we can see a green island to land on. Things will hopefully get better at the right time and then we will see Bitcoin achieving a new ATH so we will all be smiling and excited again.

Hope is all we can keep now but at the same time, we can use this information for taking the entry at the right time. I know they will not distribute the 16$ billion funds in cash, but they did gather all these funds from different types of assets. And those assets were not BTC so it's mean if they plan to distribute in BTC form. They first have to buy BTC and then have to distribute but if they will distribute in cash they have to give more than 112% of what people lost at that time.

I think it won't be 112% as it is not CMP but it may be a good chance for FTX to buy BTC to distribute again. Overall, fingers are crossed because the judge has yet to declare the decision in which form they should distribute the funds. Somewhere they said we will give people exactly the same coins which they have lost and somewhere in the news I read they will be offering in fiat. Well, the market will definitely dump and we will be seeing this dump till October because MT Gox will distribute all of the funds till October and I assume FTX will also do the same.

[SamReomo]

but I read somewhere that they will distribute in cash which will be a good thing otherwise no one can stop market to go below $50k

Not below $50k but way below it if they dump that $16B in Bitcoin. The market is slowly recovering and investors are getting interested once again but if something like that was announced then that could create more fear in the minds of the investors and they would sell at market rate because of that fear.

[philipma1957]

but I read somewhere that they will distribute in cash which will be a good thing otherwise no one can stop market to go below $50k

Not below $50k but way below it if they dump that $16B in Bitcoin. The market is slowly recovering and investors are getting interested once again but if something like that was announced then that could create more fear in the minds of the investors and they would sell at market rate because of that fear.

Trumps shooting is very likely to really move the matket bigly.

[Stompix]

Trumps shooting is very likely to really move the matket bigly.

Scratch....
I'm genuinely curious what would have happened if he had been killed.
Pretty sure the stock markets would have been -25% on the call and stopped trading if they had even allowed them to open on Monday.

Not so sure about crypto on this, we're already in a green pattern so I doubt too much movement.

[philipma1957]

Trumps shooting is very likely to really move the matket bigly.

Scratch....
I'm genuinely curious what would have happened if he had been killed.
Pretty sure the stock markets would have been -25% on the call and stopped trading if they had even allowed them to open on Monday.

Not so sure about crypto on this, we're already in a green pattern so I doubt too much movement.

his shooting and survival seems to have boosted and energized btc.

maybe we all hold hands and sing 🎶 together 😀 while btc moonshots over 75k a new ath.

[SamReomo]

Trumps shooting is very likely to really move the matket bigly.

Trump is a very important person for crypto market because he's supporting it and surely we may see market moving upwards. Let's hope the things may go well in next few days to weeks because that Mt. Gox thing can still somehow cause a dump in the market.

[Gurujebs]

Trumps shooting is very likely to really move the matket bigly.

Trump is a very important person for crypto market because he's supporting it and surely we may see market moving upwards. Let's hope the things may go well in next few days to weeks because that Mt. Gox thing can still somehow cause a dump in the market.

I really felt for him with that recent incident. I hope his true intention with the Americans continue the way he is campaigning right now for election if he win later because he seems to have been increased his probability of winning with that bullet.

German government will be on the corner looting their usd gotten from Bitcoin and they will be like the wish they have wait for this moment to get more profits but nobody expected this to happen. If these bullish hold, we might repeat a test of $72k and with sustenance that resistance can be broken maybe with a few words if Trump finally says good thing about Bitcoin in the coming Bitcoin summit.

[Lucius]

German government will be on the corner looting their usd gotten from Bitcoin and they will be like the wish they have wait for this moment to get more profits but nobody expected this to happen.
~snip~

The German government has nothing to do with it, BTC was sold by a German province (if that would be the correct term), and also the people were only working according to the law and I can't complain about anything related to that. They received BTC literally as a gift, sold them and made money, that's where the story ends.

If any of us were given 50k BTC, I wonder who would keep them and wait for an even higher price when they could already become a billionaire today

[NikeFit_7777]

Last week, German authorities sold off 50,000 BTC confiscated from the operator of the pirate site Movie2k.

However, concerned members of the crypto community have already managed to “donate” $414 in crypto. Some clever users use the OP_Return field to accompany their transaction with a message addressed to the German authorities:

1. For example, one message reads: “You are giving us a beautiful, censorship-free scene”.
2. Several times the wallet received transfers containing Adolf Hitler's last name or a numeric code meaning the phrase “Heil ******”. 
3. one user sent $0.72 to the German authorities from an address with the last name of Ilon Musk.
4. $4 was also sent from an address containing the phrase “Fu***u.”

German Bundestag deputy Joanna Kotar also criticized the authorities' actions - the official called on them to stop and instead of the “ridiculous” sale of cryptocurrency to develop a clear legal framework for the digital asset industry.

Link to news: https://platform.arkhamintelligence.com/explorer/address/bc1qq0l4jgg9rcm3puhhfwaz4c9t8hdee8hfz6738z

[Faisal2202]

Trumps shooting is very likely to really move the matket bigly.

You were right, considering the timeline of your post I think you were one of the early people who saw it coming before the pump in the market, that this incident would pump the market. Although I did not realize that this incident could cause such a pump I am 50% not sure if it's really a factor to consider because Germany also sold all of their reserves of 50k BTC on 13 July if I am not wrong.

The point is, that Germany and this incident of Trump must have had a good impact on the price of BTC but combined. I don't think Trump's attack has that much effect. But it's considerable. Now the next big dump can be caused by FTX what do you think? Although I also thought Mt Gox distribution could also cause a dump it did not happen so fingers are crossed with FTX as well.

I am quite late to reply but I missed many replies including this one that's why I am replying late.

[macson]

Yesterday there was news that Germany started selling BTC that it seized from illegal activities (movie piracy website). It seems that this news has already affected the price of BTC, and in addition, the last 5 days have seen an outflow of about $900 billion from spot BTC ETFs.

Things like this usually have a negative impact on the crypto market, especially at this time of year when many people are selling a lot more than they are buying. I wonder if we can expect the price to go below $60k again?

Read more -> Germany Begins Selling Its Bitcoin Billions, Triggering Volatility Fears

This is good news of course,

just let the German government sell all the bitcoins they have, so that the diamond hands can buy more bitcoins,

here we are discussing the future, well later when bitcoin passes $100k then the German government will definitely regret their decision, because they sold bitcoins when the price was still relatively cheap.