The reason for Bitcoin's decline has been revealed: Large transfer from the USA
Not long after Donald Trump's statement, "If I am elected, we will not sell any of the Bitcoins under the control of the USA," approximately 30 thousand of the assets in question were moved to a new address. It is thought that this transaction was made for sales purposes.
The reason for the deepening decline in Bitcoin in the evening hours has become clear. 29 thousand 799 BTC worth 2 billion dollars, which was under the control of the USA and seized from the Silk Road operation, was moved to another wallet.
The transaction was made at 19.18 Türkiye time. 29 thousand 799 BTC was divided into two separate addresses. While a very small amount was sent to one address, almost all of the assets were transferred to the other address.
It is thought that Bitcoins were transferred to a new address for sale. While the concern that the sales would bring the price down caused panic among investors, the price of Bitcoin fell below 67 thousand dollars in the first minutes. The number one cryptocurrency hit $66,868.
It was noteworthy that this transfer came after Donald Trump's statements on Saturday. Trump said that if he was elected, he would protect all of the approximately 200 thousand BTC under the control of the USA and keep it as a reserve asset. Silk Road BTCs were also included in this 200 thousand stock.
-Uzmancoin
