Are you worried about the German government dumping 50k BTC?

[Makus]

Germany did us all a favor. Kept price down a bit allowing us to buy some lower cost coin. Mt. Gox is next I would guess 40k of the 134k coins will sell which will allow more lower priced btc. After that market forces will drive prices up past 75k then a sell off to 59-62 k. Then the nov election trumps wins and 90k in Dec.

Should be fun.

In as much as your analysis may not be correct, the confidence to which you say all these things marvels me. I  believe  you understand that in cryptocurrency  anything  can happen  trends  an be manipulated, just like that of the German government who sold huge Bitcoin and it created  a public scene. So when making predictions  you should  probably make room for emergencies or any unforeseen event that may occur and set your target below your normal expectations  of the market due to the current trend. I'm saying because I've encountered such scenarios repeatedly and that made me to restructure the way I see things In cryptocurrency.

[Faisal2202]

The recent drop in BTC prices to the 53K USD range has caused many investors to worry, and even the market sentiment index has been pulled back to 25 - extreme fear ^[1]. Many factors have been mentioned, the first being the event of Mt.Gox starting to pay BTC and BCH to users ^[2], but its impact is still very difficult to assess and quantify. The second factor is the event of the German government selling tens of thousands of BTC ^[3].

You are right, it's hard to assess, either it was Germany or MT gox that really triggered the market I think they both play an important role. People were already expecting the distribution from Mt Gox so most of them might already have assessed the situation and made some buying and selling plans so that's why they were cool with it. I am saying this because MT Gox is still distributing but the market is not dumping as it dumped when the sudden news from Germany selling came out.

• Are you worried about the German government selling off 50K BTC?
• What positive perspective do you have about this event?
• Are you holding BTC despite the negative news that has been going on in the market for the past several months?

I was worried to see the market in red color haha but was not really worried because I knew the market will recover. I would say if they sold all of there BTC on CEX rather then via OTC (which you mentioned hey did but I doubt that). Then all of this BTC can be bought by the public and this way big organizations like BlackRock won't have a pile of BTC but still they bought this dump. Yes I am holding my funds till now.

[SmartGold01]

Germany did us all a favor. Kept price down a bit allowing us to buy some lower cost coin.

It seems to me that the recent dump of BTC and alts was mainly due to the news about mtgox. By the way, the German government started selling BTCs in mid-June, and although the BTC price reacted negatively to it, but not as much as to the news about mtgox at the beginning of July.

Yes so I noticed the price has been so resistant to news even as they keep selling bitcoin the price never dump massively instead it went the other ways I believe seeing 66k towards this evening can actually makes it climb to 70k before Sunday or Monday morning. Mtgox and the German news seems to be an aid to help rebounce back the price so easily.

[Hamza2424]

Hmm, 10 votes are No until now, seems like we have some strong hands here, by the way, I'm not sure about the yes ones because the market is already around 65k it's almost on the same range as it was a few weeks ago.

Are you ready for a strong pullback to a new ATH, or a pullback to a similar trap like the previous one, because MT GOX is still alive there? I'm not sure about August but September is for sure a bullish month at least it will start with strong momentum, just my gut feeling nothing special about the indicator's movement or another type of analysis.

[milewilda]

Germany did us all a favor. Kept price down a bit allowing us to buy some lower cost coin.

It seems to me that the recent dump of BTC and alts was mainly due to the news about mtgox. By the way, the German government started selling BTCs in mid-June, and although the BTC price reacted negatively to it, but not as much as to the news about mtgox at the beginning of July.

Yes so I noticed the price has been so resistant to news even as they keep selling bitcoin the price never dump massively instead it went the other ways I believe seeing 66k towards this evening can actually makes it climb to 70k before Sunday or Monday morning. Mtgox and the German news seems to be an aid to help rebounce back the price so easily.

German government now are really that having that huge regret considering that the price had made out some recovery after they have sold out their coins which they've saw for sure
that the market cant really just that make out that huge dump even if they would really be selling their bags. We do know that when it comes to news or sentiments then its not something that it will really be giving out that sure effect whether positive or negative towards the value or price. Its not something that would be a guarantee but if you are someones who do love on sticking with FA then it would really be your choice whether you do get in line with that analysis or not.

[Kemarit]

Germany did us all a favor. Kept price down a bit allowing us to buy some lower cost coin.

It seems to me that the recent dump of BTC and alts was mainly due to the news about mtgox. By the way, the German government started selling BTCs in mid-June, and although the BTC price reacted negatively to it, but not as much as to the news about mtgox at the beginning of July.

Yes so I noticed the price has been so resistant to news even as they keep selling bitcoin the price never dump massively instead it went the other ways I believe seeing 66k towards this evening can actually makes it climb to 70k before Sunday or Monday morning. Mtgox and the German news seems to be an aid to help rebounce back the price so easily.

German government now are really that having that huge regret considering that the price had made out some recovery after they have sold out their coins which they've saw for sure
that the market cant really just that make out that huge dump even if they would really be selling their bags. We do know that when it comes to news or sentiments then its not something that it will really be giving out that sure effect whether positive or negative towards the value or price. Its not something that would be a guarantee but if you are someones who do love on sticking with FA then it would really be your choice whether you do get in line with that analysis or not.

We really can't say that they have regretted their decision to sell and dump everything. Remember that this coins are very old, in their wallet since 2014 as that was the year they confiscated this Bitcoins. But if they really think that they can used it as a national reserved, then yeah maybe they will not sell it. But this is criminal proceeds so by law if I'm not mistaken, they have to sell it, so it's protocol to them.

[bhadz]

Germany was done dumping all of those Bitcoins, the price didn't reflected negatively but instead it went up. I wasn't worried at all looking at such dumps. Microstrategy can even dump theirs and many will definitely panic but that's more worrying when they're known to hold a lot of Bitcoins. But I don't think that they'd be able to dump that all at once because if they'd do it, they'll do it in batches. That's just an example on which to worry with.

[examplens]

Germany was done dumping all of those Bitcoins, the price didn't reflected negatively but instead it went up. I wasn't worried at all looking at such dumps. Microstrategy can even dump theirs and many will definitely panic but that's more worrying when they're known to hold a lot of Bitcoins. But I don't think that they'd be able to dump that all at once because if they'd do it, they'll do it in batches. That's just an example on which to worry with.

Perhaps before the halving, this would have a much more significant effect on the price of Bitcoin. Miners are now mining a smaller amount of Bitcoin and the new amount put back into circulation is a good thing
I'm more worried about the ETF and Blackrock buying large quantities. I think that it is not good when one entity owns a large amount of Bitcoin, it always opens up room for manipulation.

[Bobcrypto]

Obviously, the sales of the German own Bitcoin has actually been concluded, and fortunately it did not affect the Btc market price as many people anticipated. I am very sure that the news of the sales did not affect the demand during that period.
I think that with the rate of Bitcoin demands, certain degree of Btc dump or sell off may not have any effect on bitcoin market price even as adoption continue to increases.

[ZAINmalik75]

Germany was done dumping all of those Bitcoins, the price didn't reflected negatively but instead it went up. I wasn't worried at all looking at such dumps. Microstrategy can even dump theirs and many will definitely panic but that's more worrying when they're known to hold a lot of Bitcoins. But I don't think that they'd be able to dump that all at once because if they'd do it, they'll do it in batches. That's just an example on which to worry with.

How can you say the price did not reflect negatively did you not notice the price went as low as $54,000. No doubt it went up after Germany was done selling all of their Bitcoins. But when the news came out and when they started selling, the market reflected to the news and people also panicked about selling. Mt Gox selling has also caused a good dump but Most of the community thinks that the selling of BTC by Germany has caused BTC a big dump.

MicroStrategy won't be dumping all of their BTC I heard some rumors about them getting into their own Forked BTC, so they need real BTC to fork another one if these rumors are true. Why would they dump while their business depends on it now, people are buying shares of these fake bitcoins pegged to real bitcoins, if they will dump real ones why would people consider buying these shares in the first place.

[KryptoBull]

How can you say the price did not reflect negatively did you not notice the price went as low as $54,000. No doubt it went up after Germany was done selling all of their Bitcoins. But when the news came out and when they started selling, the market reflected to the news and people also panicked about selling. Mt Gox selling has also caused a good dump but Most of the community thinks that the selling of BTC by Germany has caused BTC a big dump.

MicroStrategy won't be dumping all of their BTC I heard some rumors about them getting into their own Forked BTC, so they need real BTC to fork another one if these rumors are true. Why would they dump while their business depends on it now, people are buying shares of these fake bitcoins pegged to real bitcoins, if they will dump real ones why would people consider buying these shares in the first place.

I agree that while the German government's BTC sell-off did not cause the price to plummet below 40K USD, it did bring the price back down to 53K USD in just one week. This is even scarier than the Mt.Gox BTC payout to users. After all, this event also shows us that when someone sells tens of thousands of BTC, the market can still absorb it all to support the BTC price.

MS has accumulated a lot of BTC and there is no reason for them to sell BTC right now when we are not yet in an uptrend. Saylor has also said that MS will hold BTC forever, so I don't think we will see MS selling their BTC anytime soon. They are smart enough to understand the market conditions and trends to optimize their BTC investment strategy. We should not worry too much about this either. We should FOMO and accumulate more BTC.

[ABCbits]

Germany was done dumping all of those Bitcoins, the price didn't reflected negatively but instead it went up. I wasn't worried at all looking at such dumps. Microstrategy can even dump theirs and many will definitely panic but that's more worrying when they're known to hold a lot of Bitcoins. But I don't think that they'd be able to dump that all at once because if they'd do it, they'll do it in batches. That's just an example on which to worry with.

And they also could use OTC (over the counter) trading to reduce impact of their action towards price of Bitcoin. I say reduce since block analysis might reveal they move their Bitcoin or even sell their Bitcoin without using exchange.

[debra]

Germany was done dumping all of those Bitcoins, the price didn't reflected negatively but instead it went up. I wasn't worried at all looking at such dumps. Microstrategy can even dump theirs and many will definitely panic but that's more worrying when they're known to hold a lot of Bitcoins. But I don't think that they'd be able to dump that all at once because if they'd do it, they'll do it in batches. That's just an example on which to worry with.

Germany has sold the Bitcoin, it is reported Germany missed $124M profits. Bitcoin was dropping below $60k but it is already above $65k again. Germany cannot drop the price again because the Bitcoin has been sold already. We shouldn't be worried again with Bitcoin owned by Germany. What we must worry is the Bitcoin to be transferred by MT Gox to their creditors. If they transfer the big number of Bitcoin, it may drop the price significantly when the creditors immediately sell all the Bitcoin to the market. Regarding Microstrategy, I don't see any reason that they will dump the price. Is there a bad issue from Microstrategy currently?

News about Germany sold Bitcoin: https://cointelegraph.com/news/germany-lost-124m-profit-selling-bitcoin

[bee]

What we must worry is the Bitcoin to be transferred by MT Gox to their creditors. If they transfer the big number of Bitcoin, it may drop the price significantly when the creditors immediately sell all the Bitcoin to the market. Regarding Microstrategy, I don't see any reason that they will dump the price. Is there a bad issue from Microstrategy currently?

We can imagine the same scenario if several Mt.Gox creditors sell bitcoin simultaneously at around that amount. If Mt. Gox must refund 141k Bitcoins to 24k creditors evenly so the figure will be around 5k bitcoins per person.
We can be sure that they will definitely not sell all at once, but with a thorough plan, especially because they want to minimize expenditure on taxes. The selling action will not be as aggressive as the German government.

[debra]

We can imagine the same scenario if several Mt.Gox creditors sell bitcoin simultaneously at around that amount. If Mt. Gox must refund 141k Bitcoins to 24k creditors evenly so the figure will be around 5k bitcoins per person.
We can be sure that they will definitely not sell all at once, but with a thorough plan, especially because they want to minimize expenditure on taxes. The selling action will not be as aggressive as the German government.

You are right, it is around 5k per person (5.8k). It is a big number of Bitcoin, someone can be rich suddenly with 5.8k Bitcoin. If they sell the Bitcoin at the current price, it will be around 385,120 USD (5.8 x 66,400). It is a big amount of money, I even never have that amount of money. 

I agree, I think many of the creditors will try to hold their Bitcoins. At least, they won't sell all the Bitcoin. As long as there are creditors to hold the Bitcoin, I believe it won't bring big impact on the market. Yes, it seems to have a lower impact than the German Bitcoin sold on the market few days ago.