Four Countries May Crash Bitcoin Price in September.
According to experts from Kaiko, the governments of the US, China, the UK, and Ukraine might start selling their Bitcoin reserves in September, potentially pushing the price down to $53,000.
The Bitcoin holdings of these countries are estimated at:
• USA: 203,220 BTC
• China: 190,000 BTC
• UK: 61,200 BTC
• Ukraine: 46,350 BTC
Additionally, MtGox creditors could become another source of selling pressure. Analysts Adam Morgan McCarthy and Dessislava Aubert from Kaiko noted that fears of sell orders, combined with low market liquidity, could drive further volatility in Bitcoin’s price.
Bitcoin has already dropped by 8% since early August, despite a net inflow of funds into spot Bitcoin ETFs, while global stock and bond indices have risen by 2%.
