The crypto market is falling like a dog. Is it a good opportunity to buy at the bottom or a signal to leave?

The Bitcoin crash this time is the result of a combination of factors, including miners' surrender, the German government's continued selling, and the expectation of Mentougou's selling.

At the beginning of this year, German police seized 50,000 Bitcoins, which were related to the operation of pirated websites that violated copyright laws in 2013.

The German government began to gradually sell these Bitcoins in June, selling a total of about 9,600 Bitcoins.

On July 4, the German government again transferred 1,300 Bitcoins to exchanges and 1,700 Bitcoins to anonymous wallet addresses. This series of operations brought huge selling pressure to the crypto market.

Although the transfer was not actually distributed at that time, the market was still worried.

On July 4, Mentougou began a small test transfer, which led to a large sell-off in the market, further exacerbating the decline in Bitcoin prices.

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