Bitcoin moved by the US government

[Dave1]

Every time the US government moves Bitcoin to Coinbase, the price of bitcoin in the market drops by 5% within 5 days of the move. And this has happened several times and the pattern is almost the same. However, it is their right to sell it because the US government is one of the 10 largest Bitcoin holders (and that too from confiscations). uppss

Yeah, for sure that they have every right to sell specially Bitcoins that they have confiscated.

But I'm not sure if there is a pattern there, a lot of factors to look at when we see the price of Bitcoin going down, most likely, geo-political events and then the CPI every month could be just a few of them and it's not like US selling their Bitcoin.

In any case, it might be a good call to look at how much the US government had, as they are one of the countries that has a lot of Bitcoin in their disposal.

[Ale88]

US government just moved 10,000 bitcoins to an exchange, coinbase prime. While this might be worrying for others especially after the German government moving their own bitcoins, I advise everyone to remain calm. The 10,000 bitcoins taken in custody from the Silk road case were transferred to an exchange but not with the intention of selling them.

The government has made partnership with Coinbase and has entrusted them to hold seized bitcoins. So if anyone is saying that this is a sign of a market crash or a reason for it then don’t believe them and remain steadfast in your hodling.

I was reading that the US government could move some other bitcoins in the incoming days/weeks but I see this type of episodes as news that could be worth reading for 1 minute and then you can forget about it. Everyday there are millions of people buying and selling bitcoin, they report this info just because behind there is the US government so it's kind of clickbait at the end, if the Average Joe sells 10k bitcoins nobody would care.