On These Four Days Expect a Sharp Drop in Bitcoin Price

In these four days, expect a possible drop in the price of Bitcoin 2023

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The US government plans to sell some of the confiscated bitcoins this year. Given that there is a possibility of a sharp drop in the price of Bitcoin these days, knowing when to sell can be very important.

According to BINCrypto, the possibility of selling bitcoins confiscated by the US government on certain days this year could increase the selling pressure of this digital currency.

Note the dates; There is a possibility that the price of Bitcoin will fall

The US government has repeatedly seized Bitcoins from criminal organizations over the years. It is now clear that the US plans to sell these bitcoins in four separate rounds this year.

According to the documents published in the first round, the United States government sold nearly 10,000 bitcoins worth about 215 million dollars on March 14 (March 23). On that day, we saw a significant drop in the price of Bitcoin.

The US government plans to release a total of 41,500 bitcoins this year.

Maartunn, an analyst and official writer at CryptoQuant, shared in a note the exact date of the sale of the remaining four tranches:

  • May 26 (June 5)
  • August 7 (August 16)
  • October 19 (October 27)
  • December 30

Note these dates in your calendar; Because the market can fluctuate more these days.

Coinciding with the first round of Bitcoin sales by the US government on March 14, we saw a significant price drop

In November last year, US authorities seized more than 50,000 bitcoins from James Zhong. The scammer stole these bitcoins from Silk Road, an illegal online marketplace, in 2012.

The US government is itself a digital currency whale

The 41,000 bitcoins seized by the US government are not all of the country’s currency assets.

In recent years, the government has repeatedly confiscated Bitcoins from criminals. In addition to Zhong’s 50,000 bitcoins, authorities seized more than 160,000 other bitcoins.

As a result, according to available data, the US government currently holds about 200,000 Bitcoins.

Considering the current price of Bitcoin at $28,850, the total value of these assets reaches about $6 billion.

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