Cryptocurrency analyst Konstantin Anissimov stated that the Silk Road sales by the US government could create price volatility in Bitcoin (BTC).
Analyst Konstantin Anissimov drew attention with his current comment on Bitcoin. Darknet platform of US authorities from Silk Road has taken over 300 million dollars Believing that Bitcoin can create a short-term selling pressure in the market, the analyst justified his idea. low trading volumes showed.
Bitcoin’s total daily volume up to date from $2 billion Emphasizing that there is little wash trading He suggested that a possible sell-off for this reason could deepen the decline.
a sale by the USA to the future According to the veteran who believes, the market may soon price the negative impact of this news:
I think this price drop is mostly due to the signs of the futures prices showing bearish and the news that the US government is preparing to sell $300 million worth of Bitcoin. I believe the market expects this to happen very soon. The total daily volume traded in Bitcoin is currently less than $2 billion. My assumption is that part of it is wash trading. So, a $300 million Bitcoin sale should and will result in a negative price action.
On the other hand, Anissimov, who believes that the decline will be short-lived, reaction escalation He argued that he would not be late.
Recently US dollar index (DXY) Crypto is Macro Now author pointing to the inverse correlation between BTC and Acheson AchesonHe argued that the drop in DXY will initiate the rise in Bitcoin.