Not long ago, the German government hastily sold a total of 1,300 bitcoins in three times in a jaw-dropping way, pouring into mainstream trading platforms such as Coinbase, Kraken and Bitstamp like a torrent, intending to quickly cash out. After calculation, the transaction was as high as 75 million US dollars! This move is like a strong cold current in the market, and it can be called a vivid textbook of "determination to smash the market".
This scene is like an emergency at home, and money is urgently needed, so there is no choice but to sell it out without even the time to study the price. The Bitcoin market is already turbulent, and this move by the German government is undoubtedly adding fuel to the fire, making market participants sigh: "This operation is really laughable!"
What's more shocking is that this sell-off was not done in one go, but was carried out in three times, and each time it seemed to deliberately create a shock wave, for fear that the market would not be "lively" enough. This is not a simple act of selling coins, it is simply a "smashing art performance", which makes people shake their heads and smile bitterly while being amazed.
As for the reason behind it, it is probably because the German government is facing financial pressure and urgently needs cash to solve the problem. However, this kind of selling method that completely disregards market sentiment is undoubtedly too "bold", as if it regards investors' mood as nothing and is extremely willful.
This series of operations by the German government is undoubtedly a heavy "gift" for the Bitcoin market. However, this gift is probably mixed for the majority of investors, with more helplessness and sighs. As the "leeks" in the market, what can we do except smile bitterly?
