The mystery of BTC's decline: speculation on the factors of a certain oriental country
The confusion of BTC market: speculation on the role of a certain oriental country
Have you found that BTC is falling every morning when you get up recently? It is said that the total amount of BTC held by the government of a certain oriental country ranks second among all governments in the world. More than half of the recent BTC declines started from 7 to 9 o'clock on weekdays.
Everyone should be able to feel that the market dominance has changed. The price fluctuations during the US trading time are much smaller than those during the Asian trading time. This week's decline is always in the early trading of this oriental country.
Although some bigwigs think that the government of this oriental country will definitely not sell BTC, the strange phenomenon of the market makes me think that there may be changes. Let's calculate first. This oriental government has about 200,000 BTC. Based on the average price of 60,000 US dollars in the past two weeks, it is worth about 12 billion US dollars, equivalent to 87.6 billion RMB. This is not much for the government with tight finances, but it is better to have it than not.
In addition, the on-chain records of these coins only appeared once in 2019, which was related to the PlusToken crash. The number of BTC and other cryptocurrencies was 192,000. Compared with the German government's stock of less than 40,000, this Eastern giant has the most, and it is difficult to track.
Of course, this is just a guess because BTC has fallen for a week in a row recently, and it happened during the working hours of this Eastern giant. I have no solid evidence, so everyone can just treat it as a "conspiracy theory". What is certain is that the government of this Eastern giant is now under great pressure from foreign exchange, and its internal finances are also very tight, and it is in urgent need of capital repatriation from all aspects. At this time, BTC may not be so important compared to the critical period of the current Sino-US game.
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