In the past few weeks, the German government's wallet has been depositing coins into the exchange and withdrawing coins from the exchange. Is it a show for everyone to watch?
The truth may be much more outrageous than you think
It may be that civil servants have never traded, and they don't know that they need to look at the "liquidity" of the exchange to sell coins. It is more likely that they don't know what market depth is!
At the beginning, they may have directly transferred a large amount to the market and wanted to sell it all at once, but found that there was no such a large buy order, and once the coins were transferred to the exchange, retail investors began to panic and dump the market. The movement of the wallet was monitored in real time, and according to German law: the price of BTC sold cannot exceed 10% error! !
Later, some institutions were found to conduct OTC transactions!
The OTC institutions made a lot of money again. At that time, Sun Ge also posted a message, wanting to OTC the German government's Bitcoin. It is estimated that he also heard the news! (It is said that Sun Ge did not buy it later) After all, BTC with a 95% discount is still very popular!
The German government will also be helpless in this wave. Too many big pie in the wallet are targeted, and the transfer of currency will cause panic. Otherwise, according to the size of the market, coupled with the inflow of funds from Bitcoin ETF, absorbing this selling pressure is actually just a drop in the bucket.
This is also equivalent to a big blunder. During this decline, retail investors' copycats were cut in half, and the contract positions were gone. Now the spot has returned to the original position. Institutions have more discounted pie, and the German government's USDT has been obtained. It seems that only our retail investors are hurt!
However, the biggest potential negative news in the market recently is the repayment that Mt. Gox is executing. After all, the amount is nearly three times that of the German government, and it will indeed be delivered to creditors in the form of currency.
