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

[Vincom]

BTC price havs tumbled recently, sinking to around 53K USD. This has spooked many investors, with the market sentiment index plummeting to a level of 25, indicating extreme fear ^[1]. Several potential causes have been circulating. One is the news that Mt. Gox is resuming payouts of BTC and BCH to its former users ^[2]. However, the exact impact of this event on the market remains unclear and difficult to measure. Another contributing factor could be the recent sale of tens of thousands of BTC by the German government ^[3].

I initially placed blame on the German government for selling BTC, leading to a downturn in the crypto market. This move seemed particularly unwise considering the recent bullish trend and the fact that BTC hadn't reached a peak selling price. However, new information suggests it was actually the German state of Saxony that liquidated the confiscated BTC. Following regulations, they were required to sell the 50K BTC seized from criminals in January.

"The general prosecutor's office of Saxony is responsible for liquidating confiscated assets, and the sell-off is hardly surprising," said Dr. Lennart Ante, co-founder and CEO of German-based Blockchain Research Lab. "Seized assets are always liquidated within a certain period. This is a routine business process, although at a larger-than-normal scale." ^[4]

Discovering this information calmed my nerves. I viewed the market's re-accumulation as a necessary step for a potential uptrend. Optimistically, the 50K BTC sell-off could even be seen as a temporary distraction from the Mt. Gox repayment of 140K BTC. Additionally, the German government's offloading of its BTC to Wall Street via OTC removes a potential future source of selling pressure. Wall Street's increased BTC holdings could even lead to increased support for the long-term health of the crypto market.

I would like to know your opinion on this issue:

• 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?

References:
[1] Crypto Fear & Greed Index
[2] Mt. Gox repayment shakes crypto market, causing volatility
[3] From 50,000 to 4,925 BTC: Germany's Bitcoin Sell-off Continues
[4] It's Not Germany Selling Bitcoin. It's One of Its States and It Has No Choice

[Dave1]

No, why would anyone worried though? It's good that they are dumping their Bitcoin already so that majority of us here can scoop some from their initial 50k holding. And now that they have been dumping, they are just left with just less than 10 Bitcoin so it means that they have dump so much but the price seems to be holding strong about $50k'ish.



https://platform.arkhamintelligence.com/explorer/entity/germany

Again, you can monitor that website and see if they continue to sell, if they did, in matter of days those 9 BTC will be gone and then we can all assume that it didn't put any dent in the market except those FUD's and then we can move on next month or even at the end of this month as if nothing has happened.

Edit: it looks like they sold another 3 BTC, but we are just absorbing it like a sponge,  

[kryptqnick]

Sometimes the price can decrease from a mere anticipation of positive or negative change, but it looks like this time, it was both news and action. $50k is almost $3 billion, and billions of dollars do have some impact on the price as well as on the confidence of Bitcoin investors. What was unfortunate was the overlap between these $3 billion worth of coins with Mt. Gox $9 billion with of coins. That adds up to a very significant amount, and even though it's not unloaded all at once, it can have impact.
But all things considered, Bitcoin is doing pretty well and seems to be already recovering from these events. The price is up nearly 5% over the last 7 days. So there's no need to be worried.

[Solosanz]

Who cares whether they want to dump 50K Bitcoin, yesterday they sold 150K Bitcoin and it didn't cause anything.

Just five hours ago German Government sold 150K Bitcoin and Bitcoin price went up from $58K to $59K.

That fear & greed index is nothing, if Bitcoin price decline, the fear index will rise, if Bitcoin price increase, the fear index will down. Skip all those cheap news, buy or sell Bitcoin is a normal activity except someone have bought 99% of all circulated Bitcoin.

[Jating]

• 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?

It will just complicate things for you if you worried about the news of the German government off their holdings of 50k BTC. On the contrary, no offense to them, but it was really a bad timing for them to do that, I mean they could have offload it when we are in the 6 digits figure. I know those BTC they are selling are those that they have confiscated, but still though, if you can make profit out of it then why not?

One positive thing that we learn is that Bitcoin is resilient, Mt. Gox and this news doesn't do much in the market. Those who have sold are either newbies or weak hands, or those who will make a buy back later, so still a win-win for us.

Yes, and I think smart investors are still holding despite this negative news and could be accumulating and taking advantage as the price is at a discount.

[Fiatless]

I would like to know your opinion on this issue:

• 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 am not worried because the market will withstand the pressure and the bull season will continue.
The price drop is a good opportunity to buy discounted Bitcoin. Many holders have long-term plans, so this kind of FUD wouldn't stop them from holding. There are still favorable economic indicators that the price will appreciate in the future.

It will just complicate things for you if you worried about the news of the German government off their holdings of 50k BTC. On the contrary, no offense to them, but it was really a bad timing for them to do that, I mean they could have offload it when we are in the 6 digits figure. I know those BTC they are selling are those that they have confiscated, but still though, if you can make profit out of it then why not?

They have already made some profit from the seized Bitcoin, maybe they okay with what they have realized. According the fourth article OP referenced there are laws which stipulates the time frame for the sale of such an asset. Also a court can give an other for the sale of an asset based on certain conditions such as assumptions that it might lose value in the future.

[Felicity_Tide]

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

Not sure if this should be something to be worried about, because it's their Bitcoin and everyone has the right to do whatever they want with it. Just being worried won't change anything. But the truth is, there is currently an atmosphere of fear in the market, which I think has affected so many investors and traders. Traders especially might want to hibernate selling for the now, as they might want to focus on buying instead. Long term investors as well, clearly sees this as an opportunity to accumulate more.

And again, we all know how the market works. It is never a win-win situation. We sometimes experience decline, and other times increase. I won't be surprise when I hear the German Government buying back some Bitcoin at $65K and above.

[Charles-Tim]

Why should I be afraid of German government dumping their bitcoin? We have the time of Chinese crypto crackdown and many other bad days that bitcoin will fall in price but later increase again in price. If the price of bitcoin falls, it is an opportunity for people that have not bought bitcoin to buy at buy price or for people that have bitcoin to buy more at lower prices again.

[shield132]

Why should I be worried? I sold my coins and now I'm sitting with fiat. Low Bitcoin price is profitable for me but I won't be an egoist and say that it doesn't change anything. Even if Bitcoin price dumps with that 50K Bitcoin sell, what will you lose? Nothing, you'll have the possibility to buy Bitcoin at a lower price. When you are in this game, you should have long-term aims, not short-term unless you are a whale. In the long term, Bitcoin is going to rise and surpass its all-time high, so you lose nothing. I welcome every opportunity that gives me the possibility to buy Bitcoin at a low price. This will be temporary, we have to acknowledge that.

[Taskford]

Its their right to do that and why got afraid in that situation? That amount is just a small chunk to the total supply of bitcoin and it cannot hurt the price of bitcoin not unless if there are to many people will ride on the dumping actions made by those officials. Then that situation will create a massive scare to those other investor doesn't have enough knowledge or thinking about that they are losing their money because of that situation.

But if in normal condition people should not get scared about it. They should look at the current volume and for sure bitcoin could cater all those sell orders made by those officials. We can encounter the same like actions since lots of institutions hold a lot of bitcoin so people need to relax so that they cannot manipulate the mind of people and scare them about any possible dumps fud that might happen in future.

[irhact]

BTC price havs tumbled recently, sinking to around 53K USD. This has spooked many investors, with the market sentiment index plummeting to a level of 25, indicating extreme fear ^[1]. Several potential causes have been circulating. One is the news that Mt. Gox is resuming payouts of BTC and BCH to its former users ^[2]. However, the exact impact of this event on the market remains unclear and difficult to measure. Another contributing factor could be the recent sale of tens of thousands of BTC by the German government ^[3].

I'm not worried about the Germany government dumping Bitcoin as they can't only do their worst but still the market is going to recovery and continue heading to its initial destination. We're still on the right track to a $100k Bitcoin value. They can only delay when the price will get there but they can't stop the market from moving forward. I think they're just manipulating the market with this news as if then wanted to sell they should have just gone ahead and sold without making a big deal about the whole selling process. We have alot of millionaires that are willing to buy all their Bitcoin and increase their bags. Here's a chart of what is still going to happen.

[goldkingcoiner]

While 50k Bitcoin is nothing to scoff at, neither is the determination of Bitcoiners. Most of us have made the mistake of panic-selling in our newbie days and we will not make the same mistake again.

So am I worried? No. I am confident in Bitcoin.

[TravelMug]

• 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?

We didn't worried when the Mt. Gox repayment started this month, lots of fears, but we were able to stand up and the price didn't go down as expected as there are predictions that $30k will be the bottom.

But after what has been said an done, including the news of the government of Germany dumping their Bitcoin in the market, we are still just trading sideways for this month, lowest of $53k and as high as $58k. With that said, it looks like the market has settled down already.

[dkbit98]

Does Germany government know something than we don't know?
I think they are preparing for some big event in near future, maybe they are expecting Bitcoin price to go much lower after MtGox customers start selling, or they are preparing for another war scenario.
Either way I think we are heading towards the period of big market volatility, and low fees on bitcoin won't last for much longer.

[passwordnow]

I would like to know your opinion on this issue:
Are you worried about the German government selling off 50K BTC?

Nopey. I don't even care about that but it's normal to see people become worried about these dumping scenarios from whichever country it comes from or institution that's doing it.

What positive perspective do you have about this event?

The halving effect is stronger than these dumping news from Germany. There will always be larger folks that willing to buy those sold Bitcoins so, the demand remains the same or even gonna be higher.

Are you holding BTC despite the negative news that has been going on in the market for the past several months?

Yup. I've been holding but did some mistakes in the past that made me sold a portion of my holdings. But even so, I've been holding ever since. Despite the negative news, I think people should go back how the year has started.

[Orpichukwu]

Edit: it looks like they sold another 3 BTC, but we are just absorbing it like a sponge,  

It seems like they have made another sell just a few minutes after your last edit, as what I can see from their balance as provided by Arkhamintelligence is just 3.09 btc, which is 3 btc out of their holdings just from when you made your comment until the time of this comment.
 
Who knows, before tomorrow morning the wallet will be recording zero holdings, and if they no longer have any BTC attached to them, then the fudz should finally come to an end.

Edit: the wallet is finally empty as I check back just now.

[Onyeeze]

For me I've not seen something serious about Germany government dropping a cryptocurrency if I am not mistaken I've seen many governments Across The Nation that restrict their people not to participate in cryptocurrency especially Bitcoin but what I want to assure you is that in any lift of restriction of Bitcoin or cryptocurrency generally in any country it must be restored because I know quite well that people who love to invest in cryptocurrency mostly Bitcoin will not hesitate to partner or share same knowledge with bitcoin, goverment has being threat to bitcoin right from time, if I'm living in German I will not worry myself that much

[Upgrade00]

• 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?

• No. The German government like all other governments regular sell seized assets without consideration of potential market value. They do not "invest" in an asset cause it was seized.

• The only positive is you have the opportunity to buy lower.

• Negative news in the past several months? I must have missed them.
I don't count ordinal spam or runes as negative news about bitcoin.

[HelliumZ]

Such dumping in the Bitcoin market is not new but over time such dumping has become a common theme in the Bitcoin market. The German government's sale of 50,000 bitcoins has had a huge impact on the bitcoin market, due to which the market directly reached 1,000 to 53,000 dollars, from where bitcoin could not reach 60,000 dollars until now. However, the Bitcoin market has faced similar situations several times before but that situation did not last long. However, this market has been below 60 thousand dollars for more than two weeks, but various experts believe that Bitcoin is likely to reach 70 thousand dollars again in September.

[m2017]

I would like to know your opinion on this issue:

• Are you worried about the German government selling off 50K BTC?

Why worry if you cannot in any way influence the dump created by the German government? That is, the situation is outside your sphere of influence and there is nothing left to do but accept everything as it is.

Try to benefit from this event.

• What positive perspective do you have about this event?

This is elementary: any bitcoin dump is an opportunity to accumulate cheap BTC at a price below the market. Because I believe that ~$50K is not quite the correct price at the moment, but was pushed by the German government.

• Are you holding BTC despite the negative news that has been going on in the market for the past several months?

If a holder changes his long-term investment strategy because of every piece of news, then he is a bad holder. You need to pay attention to the news background in cryptoindustry, but you shouldn't panic over every incident.