The reason for Bitcoin’s fall has been revealed: Transfer from US government

Not long after Donald Trump’s statement, ‘If elected, we will not sell any of the Bitcoins controlled by the United States,’ about 30 thousand of these assets were moved to a new address. It is thought that this transaction was made for sale.

The reason for Bitcoin’s fall has been revealed: Transfer from US government

The reason for the deepening decline in Bitcoin in the evening hours became clear. Under the control of the US and seized from the Silk Road operation, 29,799 BTC worth $2 billion was moved to another wallet.

The transaction was made at 16.18 UTC. 29,799 BTC was divided into two separate addresses. While a very small amount was sent to one of the addresses, almost all of the assets were transferred to the other address.

Bitcoins are thought to be transferred to a new address for sale. While the concern that sales will drive the price down caused panic among investors, the Bitcoin price fell below $ 67,000 in the first minutes. The number one cryptocurrency saw $66,868.

It was noteworthy that this transfer came after Donald Trump’s statements on Saturday. Trump said that if elected, he would protect all of the approximately 200 thousand BTC under US control and keep it as a reserve asset. Silk Road BTCs were also included in this 200 thousand stock.

At time of writing, Bitcoin is trading for $67,400.

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