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

[DeathAngel]

They are all out of Bitcoin right now, they sent the last confiscated coins to exchanges tonight. Source: Various on X social media platform. We do not need to be concerned about German weak hands again.

[coolcoinz]

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.

I agree 100%.

This is seized bitcoin, meaning it's a fake sell pressure. If you had someone who bought it and is now selling with a loss just to get rid of it, that would be worse.
It's very easy to sell something below it's value if you haven't paid for it, which is why people often dump inheritance and similar stuff, not knowing its real value.
The only problem I see with Germany is that they're manipulating the market by pulling back from exchanges and sending it back again the next day.

As for the fear and greed, it's just a delayed sentiment indicator that relies on price, but also other stuff like social media. IMO it's worthless. It shows you something you're already aware of.
Bitcoin goes up for a few consecutive days and over 50% you're going to be in extreme greed again.
Also, the funniest shit about fear and greed is that it often was in extremes for weeks, if not months. For instance, check how it hit extreme fear of 14th in May 2021 and on 20th July it was still below 20. So it stayed in the lows of extreme fear for 2.5 months! What does it mean that we're in fear now? We could be in greed next week, or still in fear next month. Why do people even check this?

[Ojima-ojo]

I don't give a heck about the German anticipated Bitcoin sell off that is if it ever happened, what I care about is how the long term market will react to this and I am sure it going to be in the positive direction, bitcoin market react to multiple factors and this may not be one of the biggest among such factors that never have any impact on the price of bitcoin, at least not on the long term based

[darkangel11]

Why would I be worried? I held bitcoin when it fell to 3k in 2020, I held it at 16k in 2022. What's the worst that can happen now? It all crashes to new lows of $49k?
It's going to by at a new ATH by the end of the year, worst case in early 2025. Worth the wait if you ask me.
Think of what you have to lose right now vs what you can gain. If you bought at 60k you will never be down more than 30% because that's already way below the mining cost and 200 WMA.
In 6 months the 200WMA is going to be at 40k.
What's the best that can happen short term? Bitcoin will 2x in the next run up, reaching over $100k per coin. You have to decide if this is OK with your plans or not.

[Z_MBFM]

Big negative news can dump the crypto market and some positive news can also have a bad effect on the crypto market, like the German government's curfew is currently dumping Bitcoin, and the news of Mt Gox's payment is also having a negative effect on the price of Bitcoin.  In the current scenario, it is believed that there could be a big dump in the price of Bitcoin.  Because after getting the money back from Mt Gox many people will sell bitcoins due to which a large amount of bitcoins will be input in the market which may affect the price.  I think the price of bitcoin may come around $40k as well.  There is no guarantee that this will happen but I think there is a possibility.

[serjent05]

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

No, I am not worried about the German government selling off 50k BTC because the Bitcoin market has the ability to rebound and even record new ATH when it rallies coming from a dip.  The Bitcoin history shows how Bitcoin recovers when it gets dumped.

• What positive perspective do you have about this event?

The positive perspective i have in mind in this event is that people is given a chance to accumulate.  Those who had sold their BTC at the higher price can re-enter the market adding more support to the demand.  The current market drop is also a good time to DCA.

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

Who in the right mind will sell when he knows that the incoming Bitcoin rally to a new height is coming?  Besides, it is not all negative news in the past several months in fact this March BTC recorded its new ATH and was hovering above $60k before this current dump.

[armanda90]

Actually its most waiting news by all investor to buy back bitcoin if the German government want to make bitcoin dump until $50k, many people get advantage to buy back when bitcoin have large correction and become right moment for them already prepare large fund to invest in bitcoin. Its not first time with the government ideas make bitcoin dump because China as the top country have several time make bad news by banned bitcoin but never can't stop for seeing bitcoin reach most higher price than before.
I believe its manipulation only from whales or big investors making bad news and take benefit for buy back during many people get panic after selling their bitcoin due correction price.
Believe or not the whales behind this happening more excited to buy back bitcoin and take around one weeks later they will publish with good news and make bitcoin recovery in short term to the higher price.

[BlackHatCoiner]

Actually, I'm thankful they've caused this price drop. I never thought we would see Bitcoin below $60k again. How could I have expected a nation to suddenly dump $3 billion worth of Bitcoin into the market? The Bitcoin price is predictably unpredictable, as always. 

I will never understand why anyone would sell the most precious thing on Earth for a piece of paper that can be printed out of thin air. (And is being printed like that, already.)

[mirakal]

If they will, then a price dump is expected to be seen but it is a ground enough to worry the situation because that is bitcoin and after the dump, recovery will take. So many events like this that happened in the past and look, we are still moving forward.

No, it wasn't a big deal as dumping prices is not the thing we are afraid of because we are immune already to such market activities. Instead, make this a reason to buy more bitcoin is cheap while other people are selling low. But I don't see the German government will do that and not a wise decision indeed. So I guess, this is just a rumor, it only just creates panic for doubtful people but not for the real investors. I could even say that many people are waiting for the dump to enjoy the discounts.

[pakhitheboss]

The recovery has started and we will see Bitcoin breaching its new ATH in some months. This is a phase that everyone knows Bitcoin goes through after creating a new ATH. It might be new for those who have recently started where as it is a fact that Bitcoin price always reacts in the same manner whenever it comes up after halving. This year would be the first when Bitcoin created a new high it is still hovering around $50K price. A lot of money if coming in the form of ETFs & I am convinced that it will continue as the rich have got the opportunity to control Bitcoin with ETFs.

[Darker45]

Never worried about it. Never worried about anybody dumping. But sometimes I'm a bit annoyed at those who have spaghetti hands. They are fair weather Bitcoin supporters, solid advocates when the market is doing good, but it only takes one news for them to scamper offloading their coins, making a deep correction a self-fulfilling prophecy. I think the coins from the German government weren't enough to pull the price down below $60,000. But it happened thanks to those who anticipated the effects of the sell-off and do their own dumping.

[YUriy1991]

I would like to know your opinion on this issue:

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

I personally no worried about the current market conditions and in fact more and more people are entering. This is just a mental battle, if you get used to it, I think this is a normal condition and only a market correction afterwards BTC previously rose high and of course it is not forbidden to sell our holdings if we already have it. However, I believe that the government there has a further plan for what has been done to realize their Economic Policy as well as what has been planned before although some of them have also suggested not to sell all their BTC shares for a while and keep them as reserve assets.

[Rikafip]

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.

Imho, they are simply treating bitcoin as any other seized asset like car, house etc. I don't think that they bother with speculation because if they did, they would sell it few months ago when bitcoin was much higher or they would sell it much slower in order not to affect price that much.

Keep in mind that Germany's budget for 2024 is close to 500 billion euro, so few billions from selling bitcoin is peanuts for them and probably explains why they are selling it so fast.

[cryptosize]

I welcome with open hands every Black Friday sale.

Especially when no-coiners (and even Bitcoin newcomers) start pestering me about "why does Bitcoin drop?".

I had told them it wasn't a good idea to buy at 70k and above (but it was a good idea to sell some satoshis for daily expenses).

Red = buy (DCA in)
Green = sell (DCA out)

[cryptosize]

Eventually I believe Germany will be forced to buy BTC at higher prices.

Here's why:

https://rarehistoricalphotos.com/hyperinflation-weimar-republic-1922/
https://brandonquittem.com/bitcoin-rhythms-of-history/
https://www.forbes.com/sites/tylerroush/2024/03/20/china-will-be-ready-to-invade-taiwan-by-2027-us-admiral-says/

(don't bother to comment if you don't thoroughly read all the links)

[OgNasty]

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.

Imho, they are simply treating bitcoin as any other seized asset like car, house etc. I don't think that they bother with speculation because if they did, they would sell it few months ago when bitcoin was much higher or they would sell it much slower in order not to affect price that much.

Keep in mind that Germany's budget for 2024 is close to 500 billion euro, so few billions from selling bitcoin is peanuts for them and probably explains why they are selling it so fast.

I agree that they probably already had processes in place for how to handle seized funds and this wasn’t some decision someone made because they were speculating about price and future events. Sure, it’s a huge mistake and they’ll regret it, but I also wouldn’t doubt if they begin accumulating BTC according to their rules at some point as well.

[_BlackStar]

-snip-

Imho, they are simply treating bitcoin as any other seized asset like car, house etc. I don't think that they bother with speculation because if they did, they would sell it few months ago when bitcoin was much higher or they would sell it much slower in order not to affect price that much.

I agree with this - bitcoin is treated the same as any other asset confiscated by the German government and they don't seem to care much about the impact of its sale. If they really wanted to make huge profits - then the German government could probably hold on to the bitcoin longer and take advantage of the cycle's rise higher and sell it. However, this has happened and now we can only hope that the market will recover even though there is still FUD circulating.

[mindrust]

No? Why would I? It is their loss if they still want to sell from these prices and as you probably see, we are already recovering from the recent dump so It looks like the German gov bamboozled themselves. The coins are always moving from the weak hands to strong hands. The German gov sold, it means there is 1 less weak hand in the markets and many more strong hands. Lots of people bought them cheap coins thanks to the German gov. Their sacrifice will not be forgotten.

[eightdots]

No? Why would I? It is their loss if they still want to sell from these prices and as you probably see, we are already recovering from the recent dump so It looks like the German gov bamboozled themselves. The coins are always moving from the weak hands to strong hands. The German gov sold, it means there is 1 less weak hand in the markets and many more strong hands. Lots of people bought them cheap coins thanks to the German gov. Their sacrifice will not be forgotten.

We don't know if the German government will buy more Bitcoin from now on. We do not know whether the price will rise from here. Maybe they are expecting a drop in price and will buy more. We don't know the answers to these, but there is one thing we do know: Bitcoin can always find a buyer at any price. Today the German government sells Bitcoin, tomorrow someone else sells it, but Bitcoin always finds buyers.

I wonder whether they will buy Bitcoin again in the future. We'll see if they made this sale to avoid buying Bitcoin again or because they wanted to buy more Bitcoin at a lower price.

[GigaBit]

I don't give a heck about the German anticipated Bitcoin sell off that is if it ever happened, what I care about is how the long term market will react to this and I am sure it going to be in the positive direction, bitcoin market react to multiple factors and this may not be one of the biggest among such factors that never have any impact on the price of bitcoin, at least not on the long term based

I'm not worried about the temporary price effect of selling bitcoins held by someone. I don't think the whole bitcoin market will collapse if they sell bitcoins. If there are buyers for Bitcoin there is no chance for the price to drop at any stage. There has already been an assumption that Bitcoin will fall in recent times, and it is not unusual for a small price drop to occur during long bullish periods, and any event during that time is responsible for a major fall in the crypto market. But in reality such decline was normal. That is, if the market is bullish, there will be price correction. Can't say dump for any other reason. Also, there is a huge supply of bitcoins in the entire world and I would never see it hard for the German government to sell some bitcoins.